Robert W. Baird Upgrades Datadog (NASDAQ:DDOG) to “Outperform”

Datadog (NASDAQ:DDOG) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Wednesday, Briefing.com reports. The brokerage currently has a $140.00 price target on the stock, up from their prior price target of $130.00. Robert W. Baird’s target price would suggest a potential upside of 24.56% from the company’s current price.

Other analysts also recently issued research reports about the stock. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (up previously from $140.00) on shares of Datadog in a research report on Wednesday, February 14th. Rosenblatt Securities restated a “buy” rating and set a $146.00 price objective on shares of Datadog in a research note on Monday. William Blair restated an “outperform” rating on shares of Datadog in a research note on Friday, February 16th. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of Datadog in a research note on Monday. Finally, Royal Bank of Canada raised their price objective on Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.42.

Datadog Stock Down 11.5 %

DDOG stock opened at $112.40 on Wednesday. Datadog has a twelve month low of $75.02 and a twelve month high of $138.61. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $37.30 billion, a P/E ratio of 936.67 and a beta of 1.14. The firm has a 50 day simple moving average of $124.57 and a 200-day simple moving average of $119.16.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The business had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. During the same quarter last year, the company earned ($0.08) earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, equities research analysts predict 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 company’s stock in a transaction dated Monday, February 12th. The shares were 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 of the company’s stock, valued at $33,414,012.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Olivier Pomel sold 23,924 shares of the firm’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 transaction of $3,111,316.20. Following the transaction, the chief executive officer now owns 337,247 shares in the company, valued at $43,858,972.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 247,328 shares in the company, valued at approximately $33,414,012.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 626,593 shares of company stock valued at $80,422,044. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its stake in shares of Datadog by 3.1% in the 1st quarter. QRG Capital Management Inc. now owns 7,899 shares of the company’s stock worth $976,000 after buying an additional 234 shares in the last quarter. Donoghue Forlines LLC boosted its stake in Datadog by 29.1% during the first quarter. Donoghue Forlines LLC now owns 3,750 shares of the company’s stock valued at $464,000 after buying an additional 846 shares in the last quarter. Verus Capital Partners LLC grew its holdings in Datadog by 4.5% during the first quarter. Verus Capital Partners LLC now owns 3,384 shares of the company’s stock worth $418,000 after acquiring an additional 147 shares during the period. Meeder Advisory Services Inc. raised its position in Datadog by 9.0% in the first quarter. Meeder Advisory Services Inc. now owns 2,388 shares of the company’s stock worth $295,000 after acquiring an additional 197 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new stake in Datadog in the 1st quarter valued at about $356,000. 78.29% of the stock is 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.