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 4.9% and a 46.09% success rate. Reback covers the Technology sector, focusing on stocks such as Datadog, Microsoft, and Snowflake.

In addition to Stifel Nicolaus, Datadog also received a Buy from Morgan Stanley’s Sanjit Singh in a report issued yesterday. However, on April 15, Truist Financial maintained a Hold rating on Datadog (NASDAQ: DDOG).

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 154 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, Alexis Le-Quoc, the CTO of DDOG sold 53,541.00 shares for a total of $5,917,886.73.