Datadog (NASDAQ:DDOG) Shares Gap Up to $122.07

Shares of Datadog, Inc. (NASDAQ:DDOG) gapped up prior to trading on Tuesday . The stock had previously closed at $122.07, but opened at $125.50. Datadog shares last traded at $127.21, with a volume of 928,023 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Needham & Company LLC raised their target price on shares of Datadog from $125.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Royal Bank of Canada raised their target price on Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Robert W. Baird raised their price target on shares of Datadog from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Wells Fargo & Company raised Datadog from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $130.00 to $150.00 in a report on Tuesday. Finally, Truist Financial boosted their price objective on shares of Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average target price of $131.70.

Datadog Price Performance

The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $125.63 and its two-hundred day simple moving average is $116.37. The firm has a market cap of $42.08 billion, a PE ratio of 1,017.25 and a beta of 1.16.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $589.65 million during the quarter, compared to analysts’ expectations of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. Datadog’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the business earned ($0.08) EPS. As a group, research analysts expect that Datadog, Inc. will post -0.14 EPS for the current year.

Insider Activity

In related news, CRO Sean Michael Walters sold 20,692 shares of Datadog stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $2,660,577.36. Following the completion of the sale, the executive now owns 182,593 shares in the company, valued at approximately $23,477,807.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Datadog news, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the sale, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at $38,825,916.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Sean Michael Walters sold 20,692 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,660,577.36. Following the transaction, the executive now owns 182,593 shares in the company, valued at $23,477,807.94. The disclosure for this sale can be found here. Insiders sold 745,984 shares of company stock worth $95,917,681 over the last ninety days. Corporate insiders own 14.97% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDOG. Anchor Investment Management LLC bought a new stake in shares of Datadog in the fourth quarter valued at about $25,000. Riverview Trust Co bought a new position in Datadog during the first quarter worth about $26,000. Raleigh Capital Management Inc. bought a new position in Datadog during the fourth quarter worth about $29,000. BluePath Capital Management LLC acquired a new position in Datadog in the 3rd quarter valued at about $31,000. Finally, Private Trust Co. NA boosted its stake in shares of Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after buying an additional 223 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Company Profile

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.