Datadog (NASDAQ:DDOG) Earns Buy Rating from Needham & Company LLC

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $160.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 39.02% from the stock’s current price.

A number of other brokerages have also recently issued reports on DDOG. Rosenblatt Securities raised their target price on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Jefferies Financial Group lifted their target price on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Truist Financial decreased their target price on Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and decreased their target price for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their target price on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.70.

Datadog Stock Performance

Shares of DDOG stock opened at $115.09 on Tuesday. Datadog has a one year low of $98.80 and a one year high of $170.08. The company’s 50-day simple moving average is $136.50 and its 200-day simple moving average is $131.85. The stock has a market capitalization of $39.45 billion, a price-to-earnings ratio of 225.67, a PEG ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, research analysts forecast that Datadog will post 0.34 EPS for the current year.

Insider Buying and Selling

In other Datadog news, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $114.21, for a total value of $2,855,250.00. Following the transaction, the director now owns 82,324 shares of the company’s stock, valued at approximately $9,402,224.04. This represents a 23.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $61,236,887.04. This represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 589,353 shares of company stock valued at $86,544,020 over the last quarter. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DDOG. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Datadog by 8.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,746 shares of the company’s stock valued at $1,352,000 after buying an additional 886 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Datadog by 51.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 608,252 shares of the company’s stock valued at $69,985,000 after buying an additional 206,696 shares in the last quarter. KG&L Capital Management LLC increased its holdings in shares of Datadog by 22.3% in the third quarter. KG&L Capital Management LLC now owns 3,915 shares of the company’s stock valued at $450,000 after buying an additional 715 shares in the last quarter. National Pension Service increased its holdings in shares of Datadog by 10.2% in the third quarter. National Pension Service now owns 432,450 shares of the company’s stock valued at $49,758,000 after buying an additional 39,881 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Datadog by 3.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 99,194 shares of the company’s stock valued at $11,413,000 after purchasing an additional 3,151 shares during the period. Institutional investors own 78.29% of the company’s stock.

About Datadog

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.