Datadog (NASDAQ:DDOG – Get Rating) had its price target reduced by equities researchers at The Goldman Sachs Group from $162.00 to $128.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 68.42% from the company's previous close.
Other equities analysts have also issued reports about the company. Morgan Stanley dropped their price target on Datadog from $124.00 to $110.00 and set an "overweight" rating for the company in a research note on Monday, December 19th. Cantor Fitzgerald assumed coverage on Datadog in a research report on Wednesday. They set an "overweight" rating and a $95.00 price objective on the stock. Raymond James decreased their price objective on Datadog from $140.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, November 4th. Wolfe Research assumed coverage on Datadog in a research report on Monday, November 7th. They set a "peer perform" rating on the stock. Finally, Oppenheimer upgraded Datadog from a "market perform" rating to an "outperform" rating and set a $105.00 price objective on the stock in a research report on Wednesday, December 14th. Five analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $114.32.
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Datadog Price Performance
Shares of Datadog stock opened at $76.00 on Wednesday. The stock has a 50 day moving average of $72.79 and a 200 day moving average of $86.25. Datadog has a 12 month low of $61.34 and a 12 month high of $184.70. The firm has a market cap of $24.13 billion, a PE ratio of -1,509.40 and a beta of 1.02. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.57.
Datadog (NASDAQ:DDOG – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. Datadog had a positive return on equity of 0.60% and a negative net
margin of 0.91%. The company had revenue of $436.53 million during the quarter, compared to analyst estimates of $412.15 million. On average, research analysts expect that Datadog will post -0.1 EPS for the current fiscal year.
Insider Buying and Selling at Datadog
In related news, Director Matthew Jacobson bought 710,429 shares of the company's stock in a transaction on Monday, November 7th. The shares were acquired at an average price of $69.45 per share, with a total value of $49,339,294.05. Following the transaction, the director now owns 423,218 shares of the company's stock, valued at $29,392,490.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Datadog news, Director Matthew Jacobson acquired 710,429 shares of the stock in a transaction dated Monday, November 7th. The stock was purchased at an average price of $69.45 per share, with a total value of $49,339,294.05. Following the transaction, the director now directly owns 423,218 shares of the company's stock, valued at $29,392,490.10. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alexis Le-Quoc sold 71,364 shares of the firm's stock in a transaction on Monday, November 14th. The stock was sold at an average price of $78.96, for a total value of $5,634,901.44. Following the completion of the sale, the insider now directly owns 189,029 shares of the company's stock, valued at approximately $14,925,729.84. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,150,006 shares of company stock valued at $79,339,605 and have sold 269,888 shares valued at $19,904,866. Insiders own 15.80% of the company's stock.
Institutional Trading of Datadog
A number of institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC purchased a new position in Datadog in the 2nd quarter worth $27,000. O Dell Group LLC purchased a new position in Datadog in the 2nd quarter worth $30,000. CI Investments Inc. raised its stake in Datadog by 1,003.2% in the 3rd quarter. CI Investments Inc. now owns 342 shares of the company's stock worth $30,000 after acquiring an additional 311 shares during the last quarter. CoreCap Advisors LLC purchased a new position in Datadog in the 2nd quarter worth $32,000. Finally, Glassman Wealth Services raised its stake in Datadog by 294.6% in the 2nd quarter. Glassman Wealth Services now owns 367 shares of the company's stock worth $35,000 after acquiring an additional 274 shares during the last quarter. Institutional investors and hedge funds own 70.93% of the company's stock.
Datadog Company Profile
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Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.
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