TD Cowen Boosts Datadog (NASDAQ:DDOG) Price Target to $165.00

Datadog (NASDAQ:DDOG) had its target price lifted by TD Cowen from $160.00 to $165.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Robert W. Baird raised their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday. Barclays cut their price objective on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. UBS Group restated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. 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 report on Thursday, November 7th. Finally, Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $150.96.

Datadog Stock Performance

DDOG opened at $122.36 on Friday. The firm has a market cap of $41.25 billion, a price-to-earnings ratio of 230.87, a PEG ratio of 22.72 and a beta of 1.10. The firm’s 50-day simple moving average is $119.67 and its 200-day simple moving average is $119.48. Datadog has a twelve month low of $98.80 and a twelve month high of $138.61.

Insider Buying and Selling at Datadog

In related news, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the sale, the director now owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Datadog news, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.02, for a total value of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares in the company, valued at approximately $55,143,068.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the sale, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 317,186 shares of company stock valued at $39,962,314. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC boosted its holdings in shares of Datadog by 597.9% during the 1st quarter. Empowered Funds LLC now owns 40,732 shares of the company’s stock worth $5,034,000 after buying an additional 34,896 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Datadog by 3.4% in the first quarter. Oppenheimer & Co. Inc. now owns 13,031 shares of the company’s stock worth $1,611,000 after purchasing an additional 434 shares during the period. Illinois Municipal Retirement Fund acquired a new position in shares of Datadog in the 1st quarter valued at approximately $593,000. Forsta AP Fonden increased its stake in shares of Datadog by 34.7% in the 1st quarter. Forsta AP Fonden now owns 64,100 shares of the company’s stock valued at $7,923,000 after purchasing an additional 16,500 shares during the last quarter. Finally, Swiss National Bank grew its position in Datadog by 2.9% in the first quarter. Swiss National Bank now owns 818,000 shares of the company’s stock valued at $101,105,000 after acquiring an additional 23,100 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

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.