UBS Optimizes Datadog’s Potential: Stock Rating Upgraded
UBS Changes Stance on Datadog
On October 18, 2024, UBS improved their outlook for Datadog (XTRA:3QD), moving from Neutral to Buy.
Analysts Predict Strong Growth
The average one-year price target for Datadog is 133.50 €/share as of September 25, 2024. This represents a potential increase of 14.81% from its latest closing price of 116.28 €/share. The forecasts vary, projecting a low of 103.72 € and a high of 215.65 €.
View our leaderboard for companies with the most significant price target upside.
Revenue and Earnings Expectations
Datadog is expected to achieve an annual revenue of 2,748MM, reflecting a 14.80% increase. Moreover, the projected annual non-GAAP EPS stands at 1.52.
Fund Sentiment on the Rise
Currently, 1,510 funds or institutions are backing Datadog, marking an increase of 11 fund owners, or 0.73%, from the previous quarter. The average portfolio weight of these funds dedicated to 3QD is 0.45%, which has risen by 1.55%. Over the last three months, institutional ownership has surged by 7.15%, now totaling 280,395K shares.
Baillie Gifford holds 9,493K shares, equating to 3.05% ownership. They reported a reduction from 9,624K shares, indicating a 1.37% decrease. Their allocation in 3QD has also decreased by 59.66% in the last quarter.
The Vanguard Total Stock Market Index Fund Investor Shares owns 8,777K shares (2.82% ownership), up from 8,559K shares, which translates to a 2.48% increase. Their portfolio allocation in 3QD increased by 4.63% recently.
Jennison Associates significantly boosted their position from 422K shares to 6,147K shares, marking a 93.14% increase. Their portfolio allocation has surged by 679.87% in the past quarter.
Furthermore, Vanguard Mid-Cap Index Fund Investor Shares holds 5,947K shares, accounting for 1.91% ownership. This is a slight increase from 5,909K shares, or 0.64% up. Their allocation rose by 9.02% over the quarter.
Invesco QQQ Trust, Series 1 possesses 5,941K shares (1.91% ownership), up from 5,741K shares, reflecting a 3.36% increase. Their allocation in 3QD has decreased by 2.27% over the last quarter.
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This article originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
