UBS Group Issues Positive Forecast for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its target price hoisted by UBS Group from $120.00 to $125.00 in a report issued on Wednesday morning, Marketbeat.com reports. UBS Group currently has a buy rating on the stock.

Several other research firms have also recently commented on DDOG. Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and lowered their target price for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Barclays upped their target price on shares of Datadog from $125.00 to $128.00 and gave the company an “overweight” rating in a research report on Tuesday. Scotiabank dropped their price target on shares of Datadog from $155.00 to $125.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company cut shares of Datadog from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.54.

Datadog Stock Performance

Shares of DDOG stock opened at $106.10 on Wednesday. Datadog has a 52 week low of $81.63 and a 52 week high of $170.08. The stock has a market capitalization of $36.37 billion, a PE ratio of 208.04, a PEG ratio of 44.03 and a beta of 1.12. The stock’s fifty day moving average is $100.43 and its 200-day moving average is $126.04.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue was up 24.6% on a year-over-year basis. As a group, analysts forecast that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the transaction, the executive now directly owns 185,871 shares in the company, valued at $18,966,276.84. This represents a 4.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the sale, the chief technology officer now directly owns 371,865 shares in the company, valued at approximately $37,986,009.75. This represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,456 shares of company stock worth $39,018,715 over the last ninety days. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DDOG. Vanguard Group Inc. boosted its holdings in shares of Datadog by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after buying an additional 220,527 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Datadog by 12.6% in the first quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company’s stock valued at $1,217,769,000 after acquiring an additional 1,369,522 shares during the last quarter. Jennison Associates LLC lifted its stake in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares during the last quarter. Groupama Asset Managment grew its position in shares of Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after acquiring an additional 5,299,688 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Datadog by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock valued at $811,076,000 after purchasing an additional 499,055 shares during the period. 78.29% of the stock is currently owned by institutional investors.

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.