Needham & Company LLC Reiterates “Buy” Rating for Datadog (NASDAQ:DDOG)

Needham & Company LLC reaffirmed their buy rating on shares of Datadog (NASDAQ:DDOG) in a research report released on Friday,Benzinga reports. The firm currently has a $160.00 target price on the stock.

Several other equities research analysts also recently commented on DDOG. Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $152.00 to $140.00 in a report on Thursday. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and reduced their target price for the company from $165.00 to $140.00 in a report on Wednesday, January 29th. Cantor Fitzgerald started coverage on Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 price target on the stock. Finally, Citigroup upped their price target on Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.39.

Datadog Stock Performance

Shares of DDOG stock opened at $131.01 on Friday. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08. The stock has a fifty day moving average of $145.85 and a two-hundred day moving average of $130.93. The firm has a market capitalization of $44.51 billion, a PE ratio of 247.19, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 7.58% and a return on equity of 9.41%. Equities research analysts predict that Datadog will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at $46,371,802.84. This trade represents a 28.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Olivier Pomel sold 11,195 shares of Datadog stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total value of $1,565,732.70. Following the sale, the chief executive officer now directly owns 379,693 shares in the company, valued at $53,103,862.98. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 627,586 shares of company stock valued at $92,540,479 in the last 90 days. 11.78% of the stock is currently owned by insiders.

Institutional Trading of Datadog

Several institutional investors have recently modified their holdings of DDOG. Groupama Asset Managment grew its holdings in shares of Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after purchasing an additional 5,299,688 shares in the last quarter. Norges Bank acquired a new stake in shares of Datadog during the 4th quarter worth approximately $462,910,000. Jennison Associates LLC grew its holdings in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Datadog during the 4th quarter worth approximately $173,163,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.