Datadog (NASDAQ:DDOG) Reaches New 12-Month High at $73.78

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Shares of Datadog (NASDAQ:DDOG) hit a new 52-week high on Friday . The company traded as high as $73.78 and last traded at $73.27, with a volume of 46714 shares trading hands. The stock had previously closed at $69.89.

A number of research firms have issued reports on DDOG. Mizuho increased their target price on shares of Datadog from $46.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Morgan Stanley increased their price objective on Datadog from $42.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Royal Bank of Canada boosted their target price on Datadog from $43.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Monday, May 11th. Zacks Investment Research upgraded Datadog from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Friday. Finally, Jefferies Financial Group boosted their price objective on Datadog from $39.00 to $59.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Datadog has an average rating of “Buy” and a consensus target price of $61.00.

The firm has a market cap of $20.92 billion and a PE ratio of -486.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.43 and a current ratio of 4.43. The firm’s 50-day moving average price is $46.84 and its two-hundred day moving average price is $41.63.

Datadog (NASDAQ:DDOG) last posted its earnings results on Monday, May 11th. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.09. The company had revenue of $131.30 million during the quarter, compared to analysts’ expectations of $117.73 million. The firm’s revenue for the quarter was up 87.4% on a year-over-year basis. As a group, sell-side analysts predict that Datadog will post -0.02 earnings per share for the current fiscal year.

In related news, major shareholder Ventures Vi (Jersey) Lp Index sold 132,802 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $68.13, for a total value of $9,047,800.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David M. Obstler sold 20,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $70.47, for a total transaction of $1,409,400.00. The disclosure for this sale can be found here. Insiders have sold 1,889,942 shares of company stock worth $87,825,213 in the last quarter. Insiders own 26.06% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. IA Venture Partners LLC acquired a new stake in shares of Datadog during the fourth quarter worth about $154,018,000. Point72 Asset Management L.P. lifted its position in Datadog by 1,496.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,389,354 shares of the company’s stock worth $52,490,000 after acquiring an additional 1,302,336 shares during the period. Brown Capital Management LLC purchased a new position in shares of Datadog in the 1st quarter valued at approximately $47,562,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Datadog by 275.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 978,411 shares of the company’s stock valued at $35,203,000 after purchasing an additional 717,514 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Datadog by 633.9% during the first quarter. Bessemer Group Inc. now owns 975,823 shares of the company’s stock worth $35,110,000 after purchasing an additional 842,859 shares during the last quarter. Institutional investors own 18.37% of the company’s stock.

About Datadog (NASDAQ:DDOG)

Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.

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