Datadog (NASDAQ:DDOG) Price Target Raised to $200.00

Datadog (NASDAQ:DDOG) had its target price increased by Loop Capital from $160.00 to $200.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also weighed in on DDOG. Scotiabank dropped their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. DA Davidson upped their price target on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities lifted their price objective on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, November 8th. UBS Group restated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Finally, Barclays raised their price target on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus price target of $157.04.

Datadog Price Performance

NASDAQ:DDOG opened at $148.40 on Monday. The stock’s 50-day moving average is $140.09 and its two-hundred day moving average is $125.87. The stock has a market cap of $50.41 billion, a PE ratio of 280.01, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08.

Insider Activity

In other news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the sale, the chief executive officer now owns 392,111 shares of the company’s stock, valued at approximately $48,076,729.71. This trade represents a 17.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the transaction, the director now owns 435,701 shares of the company’s stock, valued at $67,642,580.25. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 740,588 shares of company stock valued at $101,329,606. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SouthState Corp bought a new position in Datadog in the 2nd quarter valued at $26,000. True Wealth Design LLC grew its holdings in Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares during the period. Meeder Asset Management Inc. lifted its stake in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares during the period. Quarry LP bought a new position in shares of Datadog during the third quarter worth $33,000. Finally, American National Bank & Trust bought a new stake in Datadog during the 3rd quarter worth approximately $39,000. 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.