Datadog (NASDAQ:DDOG) Price Target Raised to $160.00

Datadog (NASDAQ:DDOG) had its target price boosted by Rosenblatt Securities from $148.00 to $160.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the company. TD Cowen reissued a “buy” rating and issued a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. Truist Financial downgraded Datadog from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $170.00 to $150.00 in a research note on Tuesday, January 7th. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Barclays lifted their price objective on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Mizuho lifted their price objective on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.39.

Datadog Trading Down 3.6 %

NASDAQ DDOG opened at $131.01 on Wednesday. The stock’s 50 day moving average is $145.85 and its 200 day moving average is $130.93. Datadog has a 12 month low of $98.80 and a 12 month high of $170.08. The stock has a market cap of $44.51 billion, a PE ratio of 247.19, a P/E/G ratio of 16.83 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results 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 return on equity of 9.41% and a net margin of 7.58%. On average, analysts forecast that Datadog will post 0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $10,866,514.32. This represents a 3.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David M. Obstler sold 33,334 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $135.95, for a total value of $4,531,757.30. Following the completion of the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $42,709,780.10. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 627,586 shares of company stock worth $92,540,479. 11.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Datadog

A number of hedge funds have recently made changes to their positions in DDOG. Groupama Asset Managment lifted its stake in shares of Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Norges Bank purchased a new stake in shares of Datadog during the 4th quarter worth $462,910,000. Jennison Associates LLC lifted its stake in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Datadog during the 4th quarter worth $173,163,000. 78.29% of the stock is currently 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.