Needham & Company LLC Increases Datadog (NASDAQ:DDOG) Price Target to $54.00

Datadog (NASDAQ:DDOG) had its price target lifted by Needham & Company LLC from $48.00 to $54.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also issued reports on DDOG. Zacks Investment Research raised Datadog from a sell rating to a hold rating in a research report on Tuesday, January 14th. Goldman Sachs Group initiated coverage on Datadog in a research report on Monday, October 14th. They issued a neutral rating and a $33.00 target price on the stock. Morgan Stanley initiated coverage on Datadog in a research report on Monday, October 14th. They issued an equal weight rating and a $39.00 target price on the stock. William Blair reaffirmed a buy rating on shares of Datadog in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group upped their target price on Datadog from $34.00 to $36.00 and gave the company a hold rating in a research report on Wednesday, November 13th. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $45.50.

Shares of DDOG opened at $47.03 on Tuesday. The firm has a 50 day simple moving average of $42.01. Datadog has a 52-week low of $27.55 and a 52-week high of $50.12. The firm has a market cap of $14.35 billion and a price-to-earnings ratio of -313.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.94 and a current ratio of 4.94.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.05. The business had revenue of $113.64 million during the quarter, compared to analyst estimates of $102.22 million. On average, analysts anticipate that Datadog will post -0.19 earnings per share for the current year.

In related news, insider Alexis Le-Quoc sold 192,100 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.99, for a total transaction of $7,874,179.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 62,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.99, for a total value of $2,561,875.00. Following the sale, the chief executive officer now directly owns 109,600 shares in the company, valued at $4,492,504. The disclosure for this sale can be found here. Over the last three months, insiders have sold 454,600 shares of company stock worth $18,786,304.

Several hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC raised its position in shares of Datadog by 20.0% during the 4th quarter. FNY Investment Advisers LLC now owns 5,700 shares of the company’s stock valued at $215,000 after acquiring an additional 950 shares in the last quarter. California State Teachers Retirement System acquired a new stake in shares of Datadog during the 3rd quarter valued at approximately $34,000. Synovus Financial Corp bought a new position in Datadog during the 4th quarter worth $38,000. Citigroup Inc. bought a new position in Datadog during the 4th quarter worth $62,000. Finally, Advisor Group Inc. grew its stake in Datadog by 5,436.0% during the 4th quarter. Advisor Group Inc. now owns 2,768 shares of the company’s stock worth $105,000 after buying an additional 2,718 shares during the last quarter. 33.13% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Datadog (NASDAQ:DDOG)

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