Datadog (NASDAQ:DDOG) Shares Gap Down to $126.97

Datadog, Inc. (NASDAQ:DDOG) gapped down before the market opened on Tuesday . The stock had previously closed at $126.97, but opened at $113.26. Datadog shares last traded at $113.19, with a volume of 5,797,238 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup boosted their price target on Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 22nd. 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. Wells Fargo & Company upgraded shares of Datadog from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Mizuho increased their price objective on shares of Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Robert W. Baird lifted their target price 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. Five investment 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, the company has a consensus rating of “Moderate Buy” and an average target price of $136.04.

Datadog Price Performance

The company has a market cap of $37.22 billion, a PE ratio of 943.50 and a beta of 1.14. The firm has a 50 day simple moving average of $124.94 and a 200-day simple moving average of $118.97. 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 posted 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 return on equity of 3.79% and a net margin of 2.28%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the firm earned ($0.08) EPS. As a group, research analysts predict that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 23,924 shares of Datadog stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total value of $3,111,316.20. Following the sale, the chief executive officer now directly owns 337,247 shares in the company, valued at approximately $43,858,972.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Datadog news, insider Madre Armelle De sold 600 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $125.34, for a total value of $75,204.00. Following the completion of the sale, the insider now owns 100,353 shares in the company, valued at approximately $12,578,245.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 23,924 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the completion of the sale, the chief executive officer now owns 337,247 shares of the company’s stock, valued at $43,858,972.35. The disclosure for this sale can be found here. Insiders sold a total of 626,593 shares of company stock worth $80,422,044 in the last 90 days. Insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank raised its holdings in shares of Datadog by 2.9% in the 1st quarter. Swiss National Bank now owns 818,000 shares of the company’s stock valued at $101,105,000 after buying an additional 23,100 shares during the period. Forsta AP Fonden lifted its position in shares of Datadog by 34.7% during the first quarter. Forsta AP Fonden now owns 64,100 shares of the company’s stock worth $7,923,000 after purchasing an additional 16,500 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of Datadog in the first quarter valued at approximately $593,000. Zevenbergen Capital Investments LLC lifted its holdings in Datadog by 31.9% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 218,140 shares of the company’s stock worth $26,962,000 after buying an additional 52,735 shares in the last quarter. Finally, Nvwm LLC boosted its position in Datadog by 529.3% in the 1st quarter. Nvwm LLC now owns 7,369 shares of the company’s stock valued at $911,000 after buying an additional 6,198 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.