Datadog (NASDAQ:DDOG) Upgraded by UBS Group to Buy

Datadog (NASDAQ:DDOG) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a $150.00 target price on the stock, up from their prior target price of $125.00. UBS Group’s price target indicates a potential upside of 18.84% from the company’s current price.

Other research analysts also recently issued reports about the stock. BNP Paribas assumed coverage on shares of Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective on the stock. Monness Crespi & Hardt raised shares of Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research report on Friday, August 9th. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research note on Thursday, August 1st. Finally, DA Davidson upgraded shares of Datadog from a “neutral” rating to a “buy” rating and lifted their target price for the company from $115.00 to $140.00 in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Datadog has an average rating of “Moderate Buy” and an average price target of $142.11.

Datadog Price Performance

Datadog stock opened at $126.22 on Friday. The firm’s 50 day simple moving average is $116.27 and its 200-day simple moving average is $119.42. The company has a market cap of $42.22 billion, a P/E ratio of 394.44, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue was up 26.7% on a year-over-year basis. On average, analysts expect that Datadog will post 0.42 EPS for the current fiscal year.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total value of $1,002,719.72. Following the sale, the director now owns 451,533 shares of the company’s stock, valued at approximately $57,195,685.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Datadog news, Director Shardul Shah sold 7,916 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the sale, the director now owns 451,533 shares of the company’s stock, valued at $57,195,685.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Sean Michael Walters sold 2,322 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the sale, the executive now directly owns 183,512 shares in the company, valued at approximately $22,939,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 529,928 shares of company stock valued at $63,079,091. 11.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Datadog

A number of hedge funds have recently added to or reduced their stakes in DDOG. Kodai Capital Management LP bought a new stake in Datadog during the 1st quarter worth about $116,054,000. DNB Asset Management AS lifted its position in Datadog by 1,974.5% during the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after purchasing an additional 806,741 shares during the period. Thrivent Financial for Lutherans lifted its position in Datadog by 1,597.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after purchasing an additional 739,011 shares during the period. Bank of Montreal Can lifted its position in Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after purchasing an additional 344,431 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after purchasing an additional 331,808 shares during the period. Institutional investors own 78.29% of the company’s stock.

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.