Datadog (NASDAQ:DDOG) Given New $170.00 Price Target at Truist Financial

Datadog (NASDAQ:DDOGGet Rating) had its price objective reduced by stock analysts at Truist Financial from $200.00 to $170.00 in a research note issued on Friday, The Fly reports. Truist Financial’s price target would suggest a potential upside of 57.23% from the stock’s current price.

A number of other brokerages have also weighed in on DDOG. Sumitomo Mitsui Financial Group initiated coverage on Datadog in a report on Friday, March 18th. They issued a “neutral” rating and a $136.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on Datadog from $250.00 to $223.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. Barclays lowered their price objective on Datadog from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, April 19th. KeyCorp lowered their price objective on Datadog from $210.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, April 25th. Finally, BTIG Research started coverage on shares of Datadog in a research report on Tuesday, March 22nd. They set a “buy” rating and a $175.00 price target for the company. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $167.52.

Shares of NASDAQ DDOG traded down $3.75 during midday trading on Friday, reaching $108.12. 70,416 shares of the company were exchanged, compared to its average volume of 3,565,634. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 0.71. Datadog has a 1 year low of $69.73 and a 1 year high of $199.68. The stock has a fifty day simple moving average of $137.06 and a 200 day simple moving average of $154.48. The stock has a market cap of $33.94 billion, a P/E ratio of -1,524.21 and a beta of 1.25.

Datadog (NASDAQ:DDOGGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13. Datadog had a negative return on equity of 0.58% and a negative net margin of 2.02%. The firm had revenue of $363.03 million for the quarter, compared to analyst estimates of $337.81 million. During the same quarter last year, the company posted ($0.03) earnings per share. The business’s revenue was up 82.8% on a year-over-year basis. As a group, analysts forecast that Datadog will post -0.24 earnings per share for the current year.

In other Datadog news, CEO Olivier Pomel sold 36,368 shares of the business’s stock in a transaction on Monday, February 7th. The stock was sold at an average price of $153.88, for a total value of $5,596,307.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Obstler sold 3,750 shares of the business’s stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $171.53, for a total transaction of $643,237.50. The disclosure for this sale can be found here. Insiders sold a total of 284,742 shares of company stock valued at $44,529,492 over the last quarter. 20.23% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Datadog during the 4th quarter valued at $3,228,000. BOKF NA purchased a new stake in Datadog during the 3rd quarter worth $1,760,000. CIBC Asset Management Inc boosted its position in Datadog by 9.8% during the 3rd quarter. CIBC Asset Management Inc now owns 12,339 shares of the company’s stock worth $1,744,000 after purchasing an additional 1,101 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Datadog by 6,107.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,629 shares of the company’s stock worth $1,220,000 after purchasing an additional 8,490 shares during the period. Finally, North Star Asset Management Inc. boosted its position in Datadog by 1.2% during the 4th quarter. North Star Asset Management Inc. now owns 48,676 shares of the company’s stock worth $8,669,000 after purchasing an additional 568 shares during the period. 65.17% of the stock is owned by institutional investors.

Datadog Company Profile (Get Rating)

Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.

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