Datadog Receives Buy Rating Boost: Analyst Sees Significant Future Growth
Fintel reports that on November 7, 2024, Monness, Crespi, Hardt upgraded their outlook for Datadog (XTRA:3QD) from Neutral to Buy.
Analyst Price Projections Indicate 20.93% Growth Potential
As of October 22, 2024, the average one-year price target for Datadog is 139.11 €/share. Forecasts range from a low of 108.09 € to a high of 222.80 €. This average target suggests an increase of 20.93% from its latest closing price of 115.04 € per share.
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Company’s Revenue and Earnings Expectations
The projected annual revenue for Datadog stands at 2,748 million €, reflecting an increase of 8.35%. Analysts anticipate the annual non-GAAP EPS to be 1.52.
Institutional Investors’ Sentiment
Currently, there are 1,522 funds or institutions reporting positions in Datadog, marking an increase of 11 owners, or 0.73%, over the last quarter. The average portfolio weight of all funds invested in 3QD is 0.47%, up by 4.36%. Institutions have collectively increased their shares owned by 3.63% in the past three months to 280,532K shares.
Baillie Gifford reports holding 9,421K shares, or 3.03% of the company. This is a decrease from their last filing, where they owned 9,493K shares, indicating a drop of 0.77%. Over the last quarter, their allocation in 3QD decreased significantly by 68.20%.
The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) owns 8,777K shares, equating to 2.82% ownership. Previously, the firm held 8,559K shares—a rise of 2.48%. Their allocation in 3QD increased by 4.63% in the last quarter.
Jennison Associates holds 6,147K shares for 1.98% ownership. This is a striking increase from the 422K shares reported in the firm’s last filing, boosting their stake by an impressive 93.14% and a portfolio allocation increase of 679.87% over the last quarter.
The Vanguard Mid-Cap Index Fund Investor Shares (VIMSX) holds 5,947K shares, or 1.91% of the company. They reported an increase from 5,909K shares, amounting to a 0.64% rise in ownership. Their portfolio allocation in 3QD rose by 9.02% recently.
The Invesco QQQ Trust, Series 1 possesses 5,941K shares, representing 1.91% ownership. Their previous holding was 5,741K shares, reflecting a 3.36% increase, albeit with a slight reduction in portfolio allocation in 3QD by 2.27% over the last quarter.
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This story originally appeared on Fintel.
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