Kerry Acocella, the General Counsel and Secretary of Datadog, Inc. (NASDAQ:DDOG), a company currently valued at $57.4 billion, reported selling a significant portion of the company's stock, according to a recent SEC filing. On December 4, Acocella sold a total of 2,488 shares of Datadog's Class A common stock, valued at approximately $393,215. The shares were sold at prices ranging from $157.20 to $158.62, with the stock now trading near its 52-week high at $168.65. Following these transactions, Acocella retains ownership of 68,758 shares in the company. These sales were conducted under a pre-arranged 10b5-1 trading plan established in March 2024.According to InvestingPro analysis, Datadog's stock appears overvalued at current levels, with technical indicators suggesting overbought conditions. Subscribers can access 20 additional valuable insights about DDOG's valuation and performance metrics in the comprehensive Pro Research Report.
In other recent news, Datadog has seen a series of positive analyst adjustments. TD Cowen maintained a Buy rating on the company, emphasizing its strong market position and potential for growth. Similarly, CMB International Securities initiated a Buy rating, predicting a 24% compound annual growth rate in revenue from 2023 to 2026. BMO Capital Markets, Needham, Rosenblatt, and Barclays (LON:BARC) all raised their price targets following Datadog's recent earnings report.
Datadog's earnings report 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 firms such as Goldman Sachs and DA Davidson have revised their price targets for Datadog, 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. These are the recent developments for Datadog.
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