New Buy Rating for Datadog (DDOG), the Technology Giant

In a report released today, Brad Reback from Stifel Nicolaus maintained a Buy rating on Datadog, with a price target of $160.00.

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According to TipRanks, Reback is a 4-star analyst with an average return of 5.8% and a 47.09% success rate. Reback covers the Technology sector, focusing on stocks such as Microsoft, ServiceNow, and Datadog.

In addition to Stifel Nicolaus, Datadog also received a Buy from Bernstein’s Peter Weed in a report issued today. However, on March 30, TipRanks – Google downgraded Datadog (NASDAQ: DDOG) to a Hold.

Based on Datadog’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $953.19 million and a net profit of $46.57 million. In comparison, last year the company earned a revenue of $737.73 million and had a net profit of $45.59 million

Based on the recent corporate insider activity of 152 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DDOG in relation to earlier this year. Last month, Olivier Pomel, the CEO of DDOG sold 68,922.00 shares for a total of $7,617,948.66.