Rosenblatt Securities Reiterates Buy Rating for Datadog (NASDAQ:DDOG)

Rosenblatt Securities reissued their buy rating on shares of Datadog (NASDAQ:DDOG) in a report issued on Tuesday morning, AnalystRatings.com reports. Rosenblatt Securities currently has a $75.00 price objective on the stock.

A number of other analysts have also weighed in on DDOG. DA Davidson initiated coverage on Datadog in a report on Wednesday, April 15th. They set a neutral rating and a $38.00 target price for the company. William Blair reaffirmed a buy rating on shares of Datadog in a research report on Thursday, June 18th. Zacks Investment Research lowered Datadog from a buy rating to a hold rating in a research note on Tuesday, July 14th. Stifel Nicolaus increased their price target on shares of Datadog from $50.00 to $60.00 and gave the company a buy rating in a research report on Tuesday, May 12th. Finally, Needham & Company LLC increased their target price on shares of Datadog from $70.00 to $105.00 and gave the company a buy rating in a research report on Monday, July 27th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $75.79.

NASDAQ DDOG opened at $93.86 on Tuesday. The business has a 50 day simple moving average of $87.53 and a two-hundred day simple moving average of $57.43. Datadog has a 1-year low of $27.55 and a 1-year high of $98.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.43 and a current ratio of 4.43.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.09. The company had revenue of $131.30 million during the quarter, compared to analysts’ expectations of $117.73 million. The firm’s revenue was up 87.4% on a year-over-year basis. As a group, equities analysts anticipate that Datadog will post -0.02 EPS for the current year.

In related news, Director Julie Richardson sold 2,823 shares of Datadog stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $91.31, for a total value of $257,768.13. Following the completion of the transaction, the director now owns 5,424 shares in the company, valued at $495,265.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 132,802 shares of Datadog stock in a transaction on Friday, May 15th. The shares were sold at an average price of $68.13, for a total value of $9,047,800.26. The disclosure for this sale can be found here. In the last three months, insiders sold 3,420,018 shares of company stock valued at $258,232,306. Corporate insiders own 26.06% of the company’s stock.

A number of hedge funds have recently bought and sold shares of DDOG. 1832 Asset Management L.P. purchased a new position in Datadog in the first quarter worth approximately $62,963,000. Brown Capital Management LLC purchased a new stake in shares of Datadog during the 1st quarter worth $47,562,000. Oregon Public Employees Retirement Fund lifted its position in shares of Datadog by 275.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 978,411 shares of the company’s stock worth $35,203,000 after purchasing an additional 717,514 shares during the last quarter. Bessemer Group Inc. increased its holdings in Datadog by 633.9% in the first quarter. Bessemer Group Inc. now owns 975,823 shares of the company’s stock valued at $35,110,000 after buying an additional 842,859 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in Datadog by 388.9% in the first quarter. New York State Common Retirement Fund now owns 975,758 shares of the company’s stock valued at $35,108,000 after buying an additional 776,192 shares in the last quarter. 29.62% of the stock is currently owned by institutional investors.

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.

Further Reading: Market Capitalization and Individual Investors

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