JP Morgan Maintains Datadog Inc - (DDOG) Neutral Recommendation

Fintel reports that on August 9, 2023, JP Morgan maintained coverage of Datadog Inc - (NASDAQ:DDOG) with a Neutral recommendation.

Analyst Price Forecast Suggests 23.59% Upside

As of August 2, 2023, the average one-year price target for Datadog Inc - is 108.81. The forecasts range from a low of 70.70 to a high of $147.00. The average price target represents an increase of 23.59% from its latest reported closing price of 88.04.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Datadog Inc - is 2,262MM, an increase of 19.23%. The projected annual non-GAAP EPS is 1.20.

What is the Fund Sentiment?

There are 1254 funds or institutions reporting positions in Datadog Inc -. This is a decrease of 31 owner(s) or 2.41% in the last quarter. Average portfolio weight of all funds dedicated to DDOG is 0.44%, a decrease of 17.11%. Total shares owned by institutions decreased in the last three months by 4.33% to 250,262K shares. The put/call ratio of DDOG is 0.92, indicating a bullish outlook.

What are Other Shareholders Doing?

ICONIQ Capital holds 13,176K shares representing 4.09% ownership of the company. No change in the last quarter.

Baillie Gifford holds 10,392K shares representing 3.23% ownership of the company. In it's prior filing, the firm reported owning 6,095K shares, representing an increase of 41.35%. The firm increased its portfolio allocation in DDOG by 117.49% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,142K shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 7,986K shares, representing an increase of 1.91%. The firm decreased its portfolio allocation in DDOG by 6.94% over the last quarter.

Price T Rowe Associates holds 7,181K shares representing 2.23% ownership of the company. In it's prior filing, the firm reported owning 9,986K shares, representing a decrease of 39.05%. The firm decreased its portfolio allocation in DDOG by 33.84% over the last quarter.

Wcm Investment Management holds 6,204K shares representing 1.93% ownership of the company. In it's prior filing, the firm reported owning 4,757K shares, representing an increase of 23.32%. The firm increased its portfolio allocation in DDOG by 65.05% over the last quarter.

Datadog Background Information
(This description is provided by the company.)

Datadog is the monitoring and security platform for cloud applications. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring and log management to provide unified, real-time observability of its customers' entire technology stack. Datadog is used by organizations of all sizes and across a wide range of industries to enable digital transformation and cloud migration, drive collaboration among development, operations, security and business teams, accelerate time to market for applications, reduce time to problem resolution, secure applications and infrastructure, understand user behavior and track key business metrics.

Additional reading:

• Amended and Restated Non-Employee Director Compensation Policy
• Amended and Restated Bylaws of Datadog, Inc.
• Press Release dated
• First quarter revenue grew 33% year-over-year to $482 million Strong growth of larger customers, with about 2,910 $100k+ ARR customers, up from about 2,250 a year ago Launched Data Streams Monitoring and Application Vulnerability Management
• by and between Datadog, Inc. and Sean

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.