Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
In addition to these sales, Pomel also acquired shares through various transactions, including the conversion of Class B Common Stock into Class A Common Stock. These acquisitions were priced between $0.0 and $0.9092 per share, with a total value of $46,019. Following these transactions, Pomel's direct ownership stands at 379,693 shares. The sales were executed as part of a pre-arranged 10b5-1 plan established in September 2024. InvestingPro data shows Datadog (NASDAQ:DDOG) maintains impressive gross margins of 81.2% and strong financial health metrics, with 12 additional ProTips available for subscribers. InvestingPro data shows Datadog maintains impressive gross margins of 81.2% and strong financial health metrics, with 12 additional ProTips available for subscribers.
In addition to these sales, Pomel also acquired shares through various transactions, including the conversion of Class B Common Stock into Class A Common Stock. These acquisitions were priced between $0.0 and $0.9092 per share, with a total value of $46,019.
Following these transactions, Pomel's direct ownership stands at 379,693 shares. The sales were executed as part of a pre-arranged 10b5-1 plan established in September 2024.
In other recent news, Datadog has announced a series of strategic moves and financial results that have garnered attention. The company reported a 26% year-over-year increase in revenue, totaling $690 million, and maintained robust gross profit margins of 81.24%. Furthermore, Datadog has expanded its Board of Directors with the appointment of Amit Agarwal as a Class II director, effective January 1, 2025.
In terms of analyst ratings, UBS maintained a Buy rating on the company's stock, raising its price target to $175 from $150, due to optimism around long-term growth opportunities. Similarly, Loop Capital maintained a 'Buy' rating, projecting a significant Free Cash Flow (FCF) of $7.9 billion by FY34. Baird held an 'Outperform' rating, raising its stock price target to $175.
Guggenheim, however, maintained a Neutral stance on Datadog, despite projecting a 23% growth for the company by 2025. The firm's caution is due to Datadog's valuation, which currently trades at a premium. These are all recent developments, highlighting the growing confidence in Datadog's long-term growth prospects.
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