Investment Analysts’ Recent Ratings Updates for Datadog (DDOG)

Datadog (NASDAQ: DDOG) has recently received a number of price target changes and ratings updates:

• 10/18/2024 – Datadog had its “underperform” rating reaffirmed by analysts at UBS Group AG.
• 10/18/2024 – Datadog was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $150.00 price target on the stock, up previously from $125.00.
• 10/17/2024 – Datadog was upgraded by analysts at Wedbush from a “buy” rating to a “strong-buy” rating.
• 10/8/2024 – Datadog is now covered by analysts at BNP Paribas. They set an “outperform” rating and a $150.00 price target on the stock.
• 10/1/2024 – Datadog was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating. They now have a $140.00 price target on the stock, up previously from $115.00.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded up $1.90 during trading hours on Friday, hitting $128.12. 3,575,088 shares of the company’s stock traded hands, compared to its average volume of 3,803,647. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61. The company’s fifty day simple moving average is $116.27 and its two-hundred day simple moving average is $119.42. The company has a market cap of $42.86 billion, a price-to-earnings ratio of 400.38, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The company had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. During the same period last year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, analysts anticipate that Datadog, Inc. will post 0.42 EPS for the current fiscal year.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 15,832 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the sale, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the transaction, the director now owns 459,449 shares of the company’s stock, valued at approximately $55,143,068.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Sean Michael Walters sold 2,322 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the transaction, the executive now directly owns 183,512 shares in the company, valued at approximately $22,939,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 529,928 shares of company stock valued at $63,079,091 over the last three months. 11.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Datadog

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in shares of Datadog by 80.3% in the third quarter. Blue Trust Inc. now owns 539 shares of the company’s stock worth $62,000 after acquiring an additional 240 shares during the last quarter. Accurate Wealth Management LLC acquired a new stake in shares of Datadog in the third quarter worth $558,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Datadog by 0.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,224 shares of the company’s stock worth $4,053,000 after acquiring an additional 314 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Datadog by 10.0% in the third quarter. Bleakley Financial Group LLC now owns 3,427 shares of the company’s stock worth $394,000 after acquiring an additional 311 shares during the last quarter. Finally, nVerses Capital LLC grew its stake in shares of Datadog by 56.9% in the third quarter. nVerses Capital LLC now owns 9,100 shares of the company’s stock worth $1,047,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.