NEW YORK—Kerry Acocella, General Counsel and Secretary at Datadog, Inc. (NASDAQ:DDOG), recently sold 3,175 shares of the company's Class A Common Stock. The shares were sold at an average price of $152.14 each, totaling approximately $483,044. Since this transaction, Datadog's stock has continued its upward momentum, currently trading at $165.88, reflecting the company's strong market performance with a 42% gain over the past six months according to InvestingPro data. Following this transaction, Acocella retains ownership of 71,246 shares in the company. This sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units and performance-based restricted stock units, along with any associated brokerage fees. InvestingPro analysis indicates Datadog maintains excellent financial health with an overall score of "GREAT," though current technical indicators suggest the stock may be in overbought territory. For comprehensive insider trading analysis and 19 additional ProTips, investors can access the full Pro Research Report on Datadog.
In other recent news, Datadog, a cloud-based monitoring and analytics platform, has been the subject of several positive analyst adjustments. TD (TSX:TD) Cowen maintained a Buy rating for the company, highlighting significant opportunities for Datadog to gain market share, strong cloud leverage, and increasing free cash flow. CMB International Securities also initiated a Buy rating, predicting a 24% compound annual growth rate in revenue from 2023 to 2026.
Several firms, including BMO (TSX:BMO) Capital Markets, Needham, Rosenblatt, and Barclays (LON:BARC), raised their price targets following Datadog's recent earnings report, which revealed a 26% year-over-year revenue increase, reaching $690 million. The company added about 2,400 new customers, with 3,490 customers contributing over $100,000 in annual recurring revenue, accounting for 88% of the total.
These recent developments highlight the increasing confidence in Datadog's long-term growth prospects. Analysts from several firms, including Goldman Sachs (NYSE:GS) and DA Davidson, have revised their price targets for the company, recognizing the company's strong financial performance and growth. However, the company has not provided specific guidance for 2025, focusing instead on building sales and engineering capacity.
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