Datadog (NASDAQ:DDOG) Upgraded by Wells Fargo & Company to “Overweight”

Wells Fargo & Company upgraded shares of Datadog (NASDAQ:DDOG) from an equal weight rating to an overweight rating in a report issued on Tuesday morning, Marketbeat.com reports. Wells Fargo & Company currently has $150.00 target price on the stock, up from their previous target price of $130.00.

Several other research analysts have also recently issued reports on DDOG. Needham & Company LLC increased their price target on shares of Datadog from $125.00 to $165.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Citigroup raised their price target on Datadog from $125.00 to $150.00 and gave the company a buy rating in a report on Monday, January 22nd. Wolfe Research upped their price objective on Datadog from $140.00 to $150.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. Canaccord Genuity Group reiterated a buy rating and issued a $150.00 price objective on shares of Datadog in a research report on Friday, February 23rd. Finally, Stifel Nicolaus restated a buy rating and set a $152.00 target price on shares of Datadog in a research report on Monday. Five research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $131.70.

Datadog Stock Up 3.6 %

Datadog stock opened at $126.44 on Tuesday. The stock has a 50 day moving average of $125.53 and a two-hundred day moving average of $116.60. Datadog has a twelve month low of $62.60 and a twelve month high of $138.61. The stock has a market capitalization of $41.96 billion, a price-to-earnings ratio of 1,053.67 and a beta of 1.16. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. As a group, research analysts expect that Datadog will post -0.14 earnings per share for the current year.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 133,315 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total value of $17,306,953.30. Following the transaction, the chief executive officer now directly owns 299,075 shares in the company, valued at approximately $38,825,916.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the sale, the chief technology officer now owns 247,328 shares in the company, valued at $33,414,012.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 133,315 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the transaction, the chief executive officer now owns 299,075 shares of the company’s stock, valued at $38,825,916.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 735,984 shares of company stock worth $94,617,681. 14.97% of the stock is owned by corporate insiders.

Institutional Trading of Datadog

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Datadog in the fourth quarter worth approximately $384,986,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Datadog in the 3rd quarter valued at $189,668,000. Alkeon Capital Management LLC acquired a new position in shares of Datadog in the 3rd quarter valued at $127,526,000. Vanguard Group Inc. grew its stake in shares of Datadog by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after buying an additional 1,191,742 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in shares of Datadog by 47.9% during the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after buying an additional 848,000 shares during the last quarter. 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.