Is Datadog Inc. (NASDAQ: DDOG) Proving The Doubters Wrong?


T. Rowe Price Associates, Inc. (I.. has recently announced that it has increased stake in Datadog Inc. (NASDAQ:DDOG) by 1.75%. After grabbing 23.14 million shares, the institutional investor is now in possession of 0.4 million shares of the Technology Company. The new investment brought the stake of investor firm to 13.15% having worth around $2.17 billion. Moreover, The Vanguard Group, Inc. increased its share by 8.64 million to have a control over 11.05 million shares. And Lone Pine Capital LLC raised its holdings to 6.83 million shares by acquiring 6.83 million shares or 3.88% of the stake.
Datadog Inc. (DDOG) concluded trading on 08/27/20 at a closing price of $83.54, with 3.29 million shares of worth about $275.03 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -2.61% during that period and on Thursday the price saw a loss of about -3.18%. Currently the company’s common shares owned by public are about 299.27M shares, out of which, 184.76M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 16 analysts are covering the DDOG stock and their offered price forecasts bring an average price target of $93.75. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $107.00 and could fall to a lowest price of $80.00. Analysts also issued an outlook of 2.40 for the Datadog Inc. stock for next 12 months. The stock’s current price level is 12.41% above of average price target set by the analysts, while a rise to estimated low would result in loss of -4.43 for the stock. However, touching the estimated high of $107.00 would mean a gain of 21.93% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 272 times over the past 12 months. They bought 27,916,357 shares in 60 of the transactions. In 212 selling transactions, insiders dumped 36,161,354 shares.
T Rowe Price New Horizons Fund, Vanguard Total Stock Market Index, and T Rowe Price Growth Stock Fund are the top 3 mutual funds which are holding stakes in Datadog Inc. T Rowe Price New Horizons Fund is currently holding 8.43 million shares of worth totaling $791.41 million. The company recently came buying 1.48 million shares which brought its stake up to 4.79% of the company’s outstanding shares. Vanguard Total Stock Market Index sold 17905.0 shares, after which its hold over company’s outstanding shares shrunk to 2.27%, leaving 4.0 million shares with the mutual fund that have a worth of about $375.41 million. T Rowe Price Growth Stock Fund, after selling 3.57 million shares, have now control over 2.03% of the stake in the company. It holds 32200.0 shares of worth $335.46 million.
Datadog Inc. (NASDAQ: DDOG) started trading at $86.28, below $0.0 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $83.54, or with a loss of -3.18%. Stock saw a price change of -2.61% in past 5 days and over the past one month there was a price change of -7.31%. Over the period of past 52 weeks, stock dropped to lowest price of $27.55 but also hit the highest price of $98.99 during that period. While comparing its average daily trading volume of 4.66 million shares, we see that about 3.29 million changed hands on the day. The stock is currently trading -1.95% below its 20-day simple moving average (SMA20), while that difference is down -4.30% for SMA50 and it goes to 48.87% higher than SMA200.
T. Rowe Price Associates, Inc. (I.. acquired 23.14 million shares of Datadog Inc. having value of about $2.17 billion. Data submitted at the U.S SEC by T. Rowe Price Associates, Inc. (I.. revealed that the firm now holds 0.4 million shares in the company valued at close to $33336804.08, or have control over 1.75% stake in the company. Datadog Inc. (NASDAQ: DDOG) currently have 299.27M outstanding shares and institutions hold larger chunk of about 71.10% of that. Holding of mutual funds in the company is about 42.70% while other institutional holders and individual stake holders have control over 5.76% and 25.56% of the stake respectively.
The stock has a current market capitalization of $25.24B. PE ratio of stock for trailing 12 months is 8354.00, while it has posted earnings per share of $0.01 in the same period. It has Quick Ratio of 6.70 while making debt-to-equity ratio of 0.61. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DDOG, volatility over the week remained 4.49% while standing at 5.24% over the month.
Analysts are in expectations that Datadog Inc. (DDOG) stock would likely to be making an EPS of $0.01 in the current quarter, while forecast for next quarter ESPS is $0.01 and it is $0.15 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0.02 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -51.80% while it is estimated to increase by 14.52% in next year.
Analysts at 16 brokerage firms have issued recommendations for the Datadog Inc. (DDOG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.40. Out of those 16 Wall Street analysts, 8 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Needham on August 07, 2020 offering a Buy rating for the stock and assigned a target price range of between $105 and $106 to it. Coverage by FBN Securities stated Datadog Inc. (DDOG) stock as an Outperform in their note to investors on July 10, 2020, suggesting a price target of $115 for the stock. On July 07, 2020, Rosenblatt Reiterated their recommendations, while on May 12, 2020, Needham Reiterated their ratings for the stock with a price target of $70. Stock get a Buy rating from Needham on April 27, 2020.
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