Datadog (NASDAQ:DDOG) Trading 1.2% Higher – Should You Buy?

Datadog, Inc. (NASDAQ:DDOG) shot up 1.2% during trading on Monday . The company traded as high as $95.88 and last traded at $93.15. 1,602,967 shares changed hands during trading, a decline of 63% from the average session volume of 4,313,187 shares. The stock had previously closed at $92.02.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DDOG shares. Loop Capital boosted their price objective on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Rosenblatt Securities raised their price objective on Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Barclays dropped their target price on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. Finally, Citigroup cut their price objective on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $153.41.

Datadog Price Performance

The business has a fifty day moving average price of $109.98 and a two-hundred day moving average price of $128.77. The firm has a market capitalization of $31.72 billion, a price-to-earnings ratio of 181.47, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the sale, the executive now directly owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the transaction, the chief executive officer now owns 563,598 shares of the company’s stock, valued at $49,219,013.34. This trade represents a 16.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 548,756 shares of company stock valued at $62,219,250 over the last quarter. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new stake in Datadog during the 4th quarter valued at $30,000. Avior Wealth Management LLC grew its position in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares during the period. Putney Financial Group LLC acquired a new position in Datadog in the fourth quarter worth $32,000. Elequin Capital LP bought a new position in Datadog in the 4th quarter valued at $34,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Datadog by 74.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company’s stock worth $38,000 after acquiring an additional 162 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

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.