DA Davidson Boosts Datadog (NASDAQ:DDOG) Price Target to $165.00

Datadog (NASDAQ:DDOG) had its target price increased by DA Davidson from $150.00 to $165.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Loop Capital boosted their target price on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Scotiabank reduced their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and dropped their target price for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and set a $143.00 price target on shares of Datadog in a report on Thursday, January 16th. Finally, Guggenheim reiterated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.52.

Datadog Trading Up 1.8 %

DDOG opened at $148.09 on Monday. The company has a market cap of $50.31 billion, a P/E ratio of 279.42, a PEG ratio of 16.83 and a beta of 1.15. The company’s 50 day moving average is $146.75 and its 200-day moving average is $130.77. Datadog has a 1-year low of $98.80 and a 1-year high of $170.08.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction on Monday, December 16th. The shares were sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the completion of the sale, the director now directly owns 435,701 shares of the company’s stock, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 777,586 shares of company stock worth $111,444,979. 11.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DDOG. Motley Fool Asset Management LLC raised its holdings in shares of Datadog by 12.9% in the 4th quarter. Motley Fool Asset Management LLC now owns 15,314 shares of the company’s stock worth $2,188,000 after acquiring an additional 1,746 shares during the last quarter. Westpac Banking Corp increased its holdings in Datadog by 33.5% during the 4th quarter. Westpac Banking Corp now owns 1,520 shares of the company’s stock worth $217,000 after purchasing an additional 381 shares in the last quarter. OneAscent Financial Services LLC purchased a new stake in shares of Datadog in the fourth quarter worth approximately $203,000. Creekmur Asset Management LLC lifted its holdings in shares of Datadog by 23.3% in the fourth quarter. Creekmur Asset Management LLC now owns 5,160 shares of the company’s stock valued at $737,000 after purchasing an additional 975 shares in the last quarter. Finally, Bryce Point Capital LLC purchased a new position in shares of Datadog during the fourth quarter valued at approximately $1,611,000. 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.