Datadog’s (DDOG) Outperform Rating Reaffirmed at Macquarie

Macquarie reiterated their outperform rating on shares of Datadog (NASDAQ:DDOG) in a report released on Tuesday,Benzinga reports. They currently have a $200.00 price target on the stock.

A number of other research analysts also recently weighed in on DDOG. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Jefferies Financial Group upped their price target on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Mizuho increased their price objective on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Barclays increased their price objective on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Rosenblatt Securities increased their price objective on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.17.

Datadog Stock Performance

DDOG stock opened at $135.89 on Tuesday. The stock’s 50 day simple moving average is $146.40 and its 200 day simple moving average is $130.89. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The company has a market cap of $46.16 billion, a P/E ratio of 256.40, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 9.41% and a net margin of 7.58%. Equities analysts predict that Datadog will post 0.53 earnings per share for the current year.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was 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 of the company’s stock, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Obstler sold 33,334 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $135.95, for a total value of $4,531,757.30. Following the completion of the transaction, the chief financial officer now directly owns 314,158 shares of the company’s stock, valued at $42,709,780.10. The trade was a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 627,586 shares of company stock valued at $92,540,479. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Datadog by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock worth $4,337,316,000 after buying an additional 220,527 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after buying an additional 1,484,562 shares in the last quarter. Jennison Associates LLC raised its position in shares of Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after buying an additional 3,005,300 shares in the last quarter. Groupama Asset Managment raised its position in shares of Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after buying an additional 5,299,688 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Datadog by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after buying an additional 499,055 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

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.