Datadog (NASDAQ:DDOG) had its target price upped by stock analysts at Goldman Sachs Group from $65.00 to $107.00 in a research report issued to clients and investors on Monday, The Fly reports. Goldman Sachs Group’s price objective indicates a potential upside of 23.06% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the stock. Mizuho boosted their target price on shares of Datadog from $46.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Morgan Stanley upped their price objective on shares of Datadog from $42.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Royal Bank of Canada upped their price objective on shares of Datadog from $43.00 to $50.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th. Rosenblatt Securities upped their price objective on shares of Datadog from $61.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Barclays upped their price objective on shares of Datadog from $42.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Datadog currently has a consensus rating of “Buy” and a consensus price target of $65.69.
DDOG opened at $86.95 on Monday. Datadog has a fifty-two week low of $27.55 and a fifty-two week high of $93.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.43 and a quick ratio of 4.43. The firm has a market capitalization of $25.30 billion and a price-to-earnings ratio of -579.67. The company’s 50 day moving average price is $75.35 and its two-hundred day moving average price is $49.42.
Datadog (NASDAQ:DDOG) last posted its earnings results on Monday, May 11th. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.09. The business had revenue of $131.30 million for the quarter, compared to the consensus estimate of $117.73 million. Datadog’s revenue for the quarter was up 87.4% on a year-over-year basis. As a group, equities research analysts predict that Datadog will post -0.02 EPS for the current year.
In related news, CFO David M. Obstler sold 15,000 shares of the stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $36.33, for a total transaction of $544,950.00. Following the transaction, the chief financial officer now directly owns 190,019 shares of the company’s stock, valued at $6,903,390.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Amit Agarwal sold 16,333 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $38.83, for a total transaction of $634,210.39. Following the transaction, the insider now directly owns 41,333 shares in the company, valued at $1,604,960.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,114,466 shares of company stock worth $123,209,196. 26.06% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DDOG. State Street Corp acquired a new position in Datadog during the fourth quarter worth $544,000. Victory Capital Management Inc. raised its holdings in Datadog by 14.5% during the fourth quarter. Victory Capital Management Inc. now owns 29,781 shares of the company’s stock worth $1,125,000 after buying an additional 3,781 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new position in Datadog during the fourth quarter worth $4,184,000. Comerica Bank acquired a new position in Datadog during the fourth quarter worth $542,000. Finally, Envestnet Asset Management Inc. acquired a new position in Datadog during the fourth quarter worth $1,135,000. Hedge funds and other institutional investors own 29.63% of the company’s stock.
Datadog Company Profile
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.
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