Datadog (NASDAQ:DDOG) Price Target Lowered to $140.00 at Truist Financial

Datadog (NASDAQ:DDOG) had its price objective decreased by stock analysts at Truist Financial from $150.00 to $140.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential upside of 6.84% from the company’s previous close.

A number of other equities research analysts also recently commented on DDOG. JMP Securities reaffirmed a “market perform” rating on shares of Datadog in a research report on Friday. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Thursday, November 7th. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and lowered their price target for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Mizuho boosted their price target on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Robert W. Baird boosted their price objective on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average target price of $158.28.

Datadog Stock Down 3.6 %

Shares of NASDAQ:DDOG traded down $4.85 during midday trading on Friday, reaching $131.04. The company’s stock had a trading volume of 3,834,463 shares, compared to its average volume of 4,810,756. The firm has a market cap of $44.52 billion, a price-to-earnings ratio of 247.05, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08. The business has a 50 day moving average price of $145.85 and a 200 day moving average price of $130.93.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 7.58% and a return on equity of 9.41%. Sell-side analysts anticipate that Datadog will post 0.53 earnings per share for the current fiscal year.

Insider Activity at Datadog

In related news, General Counsel Kerry Acocella sold 2,488 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of the sale, the general counsel now directly owns 68,758 shares of the company’s stock, valued at $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 627,586 shares of company stock valued at $92,540,479 over the last three months. 11.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Datadog

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Datadog by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after purchasing an additional 220,527 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Groupama Asset Managment grew its holdings in shares of Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Datadog by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after buying an additional 499,055 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

About Datadog

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.