How Will Datadog (DDOG) React to Boost from Oppenheimer?

Today Barrons is reporting: "In a stock call that feels like a throwback to the giddy days of 2021, Oppenheimer analyst Ittai Kidron on Wednesday turned bullish on Datadog a former highflier that has fallen back to earth in the 2022 tech selloff." For full coverage click here. Shares of the large-cap Technology company have not moved much on the news as of the afternoon trading session, and are currently trading at $80.03.

Datadog, Inc. provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company belongs to the Technology sector, which has an average price to earnings (P/E) ratio of 26.5 and an average price to book (P/B) ratio of 5.57. In contrast, Datadog has a trailing 12 month P/E ratio of -555.7 and a P/B ratio of 26.1.

At today's price of $80.03 per share, Datadog is -38.42% away from its target price of $129.96, and on average, analysts give the stock a rating of buy. 4.3% of the company's shares are linked to short positions, and 80.8% of the shares are owned by institutional investors.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.