Fintel reports that on April 23, 2024, Wells Fargo upgraded their outlook for Datadog (NasdaqGS:DDOG) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 24.31% Upside
As of April 17, 2024, the average one-year price target for Datadog is 151.74. The forecasts range from a low of 116.15 to a high of $241.50. The average price target represents an increase of 24.31% from its latest reported closing price of 122.07.
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The projected annual revenue for Datadog is 3,063MM, an increase of 43.91%. The projected annual non-GAAP EPS is 1.68.
What is the Fund Sentiment?
There are 1443 funds or institutions reporting positions in Datadog. This is an increase of 95 owner(s) or 7.05% in the last quarter. Average portfolio weight of all funds dedicated to DDOG is 0.51%, an increase of 4.37%. Total shares owned by institutions decreased in the last three months by 0.15% to 261,405K shares. 
The put/call ratio of DDOG is 1.00, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 9,920K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 10,151K shares, representing a decrease of 2.32%. The firm increased its portfolio allocation in DDOG by 13.11% over the last quarter.
Price T Rowe Associates holds 8,619K shares representing 2.58% ownership of the company. In it's prior filing, the firm reported owning 10,849K shares, representing a decrease of 25.88%. The firm decreased its portfolio allocation in DDOG by 2.94% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,542K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 8,387K shares, representing an increase of 1.82%. The firm increased its portfolio allocation in DDOG by 21.28% over the last quarter.
Wcm Investment Management holds 6,291K shares representing 1.88% ownership of the company. In it's prior filing, the firm reported owning 6,292K shares, representing a decrease of 0.02%. The firm increased its portfolio allocation in DDOG by 27.45% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 6,095K shares representing 1.82% ownership of the company. In it's prior filing, the firm reported owning 6,095K shares, representing a decrease of 0.00%. The firm increased its portfolio allocation in DDOG by 19.09% 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.
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This story originally appeared on Fintel.
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