Datadog (NASDAQ:DDOG) Price Target Raised to $165.00

Datadog (NASDAQ:DDOG) had its price target lifted by equities researchers at DA Davidson from $150.00 to $165.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price suggests a potential upside of 13.46% from the company’s current price.

DDOG has been the topic of a number of other reports. Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the company from $165.00 to $140.00 in a report on Wednesday, January 29th. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Mizuho lifted their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Loop Capital lifted their target price on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, Rosenblatt Securities lifted their target price on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $158.10.

Datadog Trading Down 1.1 %

Shares of NASDAQ DDOG opened at $145.42 on Monday. The firm has a market capitalization of $49.40 billion, a PE ratio of 274.38, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08. The firm’s 50-day moving average is $146.95 and its 200-day moving average is $130.58.

Insider Transactions at Datadog

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total value of $393,203.52. Following the sale, the general counsel now owns 68,758 shares of the company’s stock, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $46,371,802.84. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 777,586 shares of company stock worth $111,444,979. 11.78% of the stock is owned by company insiders.

Institutional Trading of Datadog

Institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC lifted its stake in shares of Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after acquiring an additional 24,574 shares during the last quarter. Heritage Investors Management Corp bought a new stake in shares of Datadog in the 3rd quarter valued at about $1,157,000. Atom Investors LP bought a new stake in shares of Datadog in the 3rd quarter valued at about $1,112,000. Parnassus Investments LLC lifted its stake in shares of Datadog by 28.4% in the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after acquiring an additional 40,952 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Datadog by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after acquiring an additional 126,613 shares during the last quarter. 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.