Datadog (NASDAQ:DDOG) Price Target Lowered to $115.00 at DA Davidson

Datadog (NASDAQ:DDOG) had its target price cut by equities researchers at DA Davidson from $165.00 to $115.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential upside of 24.95% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Loop Capital lifted their target price on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Guggenheim reiterated a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of Datadog in a research report on Tuesday, March 4th. Rosenblatt Securities increased their target price on shares of Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.81.

Datadog Price Performance

Shares of DDOG traded up $0.02 during trading hours on Monday, hitting $92.04. The company’s stock had a trading volume of 4,014,724 shares, compared to its average volume of 4,321,943. The business has a 50 day simple moving average of $112.08 and a two-hundred day simple moving average of $129.18. The company has a market cap of $31.55 billion, a price-to-earnings ratio of 180.47, a PEG ratio of 44.03 and a beta of 1.20. Datadog has a 52-week low of $81.63 and a 52-week high of $170.08.

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

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $53,103,862.98. This trade represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the transaction, the chief technology officer now owns 371,865 shares in the company, valued at approximately $37,986,009.75. The trade was a 25.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 556,672 shares of company stock worth $63,344,272. 11.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Datadog

A number of hedge funds have recently added to or reduced their stakes in the company. Groupama Asset Managment boosted its position in shares of Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after buying an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Datadog by 17,477.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock worth $573,923,000 after acquiring an additional 3,993,707 shares during the period. Norges Bank bought a new position in Datadog during the fourth quarter valued at approximately $462,910,000. Jennison Associates LLC boosted its holdings in Datadog by 47.9% in the fourth 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. Finally, Brown Advisory Inc. raised its stake in Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock valued at $392,830,000 after buying an additional 2,654,512 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.