UBS Group Lowers Datadog (NASDAQ:DDOG) Price Target to $120.00

Datadog (NASDAQ:DDOG) had its price target reduced by investment analysts at UBS Group from $164.00 to $120.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 30.61% from the stock’s current price.

DDOG has been the subject of several other reports. Citigroup reduced their price objective on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 14th. Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Truist Financial lowered their price objective on shares of Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Scotiabank cut their target price on shares of Datadog from $155.00 to $125.00 and set a “sector outperform” rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada increased their price target on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.37.

Datadog Stock Performance

Shares of NASDAQ DDOG opened at $91.88 on Tuesday. The firm’s 50 day moving average price is $108.96 and its 200-day moving average price is $128.52. Datadog has a 52-week low of $81.63 and a 52-week high of $170.08. The company has a market cap of $31.49 billion, a PE ratio of 180.16, a P/E/G ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, analysts forecast that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the completion of the transaction, the chief technology officer now owns 324,778 shares of the company’s stock, valued at $46,371,802.84. This represents a 28.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 11,195 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $139.86, for a total value of $1,565,732.70. Following the completion of the sale, the chief executive officer now owns 379,693 shares in the company, valued at $53,103,862.98. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 548,756 shares of company stock valued at $62,219,250. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DDOG. Vanguard Group Inc. lifted its position in Datadog by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after purchasing an additional 220,527 shares during the last quarter. Baillie Gifford & Co. raised its position 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 valued at $1,558,234,000 after buying an additional 1,484,562 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares during the last quarter. Groupama Asset Managment grew its position in Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after acquiring an additional 5,299,688 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Datadog by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after acquiring an additional 499,055 shares during the last quarter. 78.29% of the stock is 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.