Datadog (NASDAQ:DDOG) Upgraded by Wells Fargo & Company to Overweight

Datadog (NASDAQ:DDOG) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm presently has a $150.00 target price on the stock, up from their prior target price of $130.00. Wells Fargo & Company‘s price target points to a potential upside of 22.88% from the company’s current price.

DDOG has been the subject of a number of other research reports. Wolfe Research upped their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (up previously from $140.00) on shares of Datadog in a report on Wednesday, February 14th. William Blair restated an “outperform” rating on shares of Datadog in a research report on Friday, February 16th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 target price on shares of Datadog in a research note on Wednesday, April 17th. Finally, Mizuho raised their price target on Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus target price of $131.70.

Datadog Trading Up 1.6 %

NASDAQ DDOG opened at $122.07 on Tuesday. The firm has a market capitalization of $40.51 billion, a PE ratio of 1,017.25 and a beta of 1.16. The stock’s 50 day moving average is $125.63 and its 200 day moving average is $116.37. Datadog has a twelve month low of $62.60 and a twelve month high of $138.61. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $589.65 million for 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%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) EPS. Research analysts forecast that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the sale, the chief technology officer now directly owns 247,328 shares in the company, valued at $33,414,012.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Madre Armelle De sold 600 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $125.34, for a total transaction of $75,204.00. Following the completion of the sale, the insider now directly owns 100,353 shares of the company’s stock, valued at approximately $12,578,245.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the sale, the chief technology officer now owns 247,328 shares in the company, valued at approximately $33,414,012.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 745,984 shares of company stock valued at $95,917,681. 14.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DDOG. Vanguard Group Inc. lifted its holdings in Datadog by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after buying an additional 734,539 shares in the last quarter. Sands Capital Management LLC boosted its holdings in shares of Datadog by 3.7% in the fourth quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock valued at $554,073,000 after purchasing an additional 162,108 shares during the period. Norges Bank bought a new position in Datadog in the fourth quarter worth approximately $384,986,000. Massachusetts Financial Services Co. MA grew its stake in Datadog by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after purchasing an additional 651,244 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in Datadog by 47.9% during the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after purchasing an additional 848,000 shares during the period. 78.29% of the stock is currently owned by institutional investors.

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.