The Vanguard Group, Inc. recently announced the acquisition of new stake in Datadog Inc. (NASDAQ:DDOG). The institutional investor has increased its shareholding in the Technology company by 2.78% to 23.6 million shares with purchase of 0.64 million shares. This fresh investment now brings its stake to 8.08% valued currently at $1.9 billion. In addition, Iconiq Capital LLC raised its holdings by 4.71 million to 16.67 million shares. And BlackRock Fund Advisors has lifted its position by 1.09% or 0.11 million shares – to 10.07 million shares.
With over 5.02 million Datadog Inc. (DDOG) shares trading Tuesday and a closing price of $72.33 on the day, the dollar volume was approximately $362.84 million. The shares have shown a negative half year performance of -15.71% and its price on 11/22/22 lost nearly -1.39%. Currently, there are 315.99M common shares owned by the public and among those 263.53M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 33 analysts who have offered their price forecasts for DDOG have a consensus price objective of $111.88. The analysts have set the share’s price value over the next 12 months at a high of $162.00 and a low of $82.00. The average price target is 35.8% above its recent price level and an upside to the estimated low will see the stock gain 11.79% over that period. But an upside of 55.35% will see the stock hit the forecast high price target while median target price for the stock is $109.00.
Insiders at the company have transacted a total of 254 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 524,217 shares. Insider sales of the common stock occurred on 223 occasions, with total insider shares sold totaling 672,004 shares.
The top 3 mutual fund holders in Datadog Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market Index owns 7.85 million shares of the company’s stock, all valued at over $632.4 million. The company bought an additional 43679.0 shares recently to bring their total holdings to about 2.69% of the shares outstanding. Vanguard Mid Cap Index Fund bought 75804.0 shares to see its total holdings expand to 6.11 million shares valued at over $492.23 million and representing 2.09% of the shares outstanding. Invesco QQQ Trust sold 3860.0 shares to bring its total holdings to over 4.21 million shares at a value of $339.01 million. Invesco QQQ Trust now owns shares totaling to 1.45% of the shares outstanding.
However, the script later moved the day high at 73.36, down -1.39%. The company’s stock has a 5-day price change of -15.99% and -31.31% over the past three months. DDOG shares are trading -59.39% year to date (YTD), with the 12-month market performance down to -59.98% lower. It has a 12-month low price of $66.45 and touched a high of $193.00 over the same period. DDOG has an average intraday trading volume of 4.47 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.05%, -13.74%, and -33.87% respectively.
Institutional ownership of Datadog Inc. (NASDAQ: DDOG) shares accounts for 80.50% of the company’s 315.99M shares outstanding. Mutual fund holders own 39.32%, while other institutional holders and individual stakeholders account for 9.15% and 37.03% respectively.
It has a market capitalization of $23.71B. The earnings-per-share (ttm) stands at -$0.05. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.95% over the week and 5.95% over the month.
Analysts forecast that Datadog Inc. (DDOG) will achieve an EPS of $0.16 for the current quarter, $0.14 for the next quarter and $1.08 for 2023. The lowest estimate earnings-per-share for the quarter is $0.14 while analysts give the company a high EPS estimate of $0.27. Comparatively, EPS for the current quarter was $0.13 a year ago. Earnings per share for the fiscal year are expected to increase by 17.90%, and 28.51% over the next financial year. EPS should shrink at an annualized rate of 46.93% over the next five years, compared to 117.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 33 brokerage firm advisors rate Datadog Inc. (DDOG) as a “Strong Buy” at a consensus score of 1.90. Specifically, 21 Wall Street analysts polled rate the stock as a buy, while 7 of the 33 advise that investors “hold,” and 0 rated it as a “Sell.”
Macquarie coverage for the Datadog Inc. (DDOG) stock in a research note released on November 02, 2022 offered a Neutral rating with a price target of $85. Canaccord Genuity was of a view on October 20, 2022 that the stock is Buy, while Wells Fargo gave the stock Overweight rating on October 11, 2022, issuing a price target of $120. JP Morgan on their part issued Neutral rating on September 23, 2022.