Citigroup Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG) had its price target hoisted by analysts at Citigroup from $157.00 to $170.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 22.68% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada lifted their price objective on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. DA Davidson increased their target price on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Loop Capital raised their price target on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, Sanford C. Bernstein reduced their price target on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $158.45.

Datadog Price Performance

NASDAQ DDOG traded up $1.78 during trading on Friday, reaching $138.57. 1,905,650 shares of the company’s stock were exchanged, compared to its average volume of 3,277,107. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The stock has a market capitalization of $47.08 billion, a P/E ratio of 261.44, a PEG ratio of 16.31 and a beta of 1.14. The business has a 50 day moving average price of $145.61 and a 200-day moving average price of $128.51.

Insider Transactions at Datadog

In other Datadog news, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the completion of the transaction, the president now directly owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the sale, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 609,763 shares of company stock worth $87,543,649 in the last quarter. Insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC increased its holdings in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Datadog during the fourth quarter valued at about $30,000. Meeder Asset Management Inc. boosted its holdings in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Quarry LP bought a new position in shares of Datadog during the 3rd quarter valued at about $33,000. Finally, American National Bank & Trust bought a new stake in Datadog in the 3rd quarter worth approximately $39,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Company Profile

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.