Royal Bank of Canada Cuts Datadog (NASDAQ:DDOG) Price Target to $115.00

Datadog (NASDAQ:DDOG – Get Rating) had its price objective decreased by stock analysts at Royal Bank of Canada from $167.00 to $115.00 in a note issued to investors on Monday, The Fly reports. Royal Bank of Canada’s price objective would indicate a potential upside of 34.16% from the stock’s previous close.

Several other research analysts have also recently commented on the company. Canaccord Genuity Group began coverage on Datadog in a research note on Thursday, July 7th. They set a “hold” rating and a $120.00 target price for the company. Jefferies Financial Group lowered their price target on Datadog from $170.00 to $125.00 in a report on Monday, May 23rd. Barclays reduced their price target on Datadog from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 19th. Sanford C. Bernstein initiated coverage on Datadog in a research report on Tuesday, July 19th. They issued an “outperform” rating and a $172.00 target price on the stock. Finally, The Goldman Sachs Group lowered their target price on Datadog from $250.00 to $223.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $166.15.

Datadog Stock Performance

NASDAQ DDOG opened at $85.72 on Monday. The company has a market cap of $27.00 billion, a PE ratio of -8,572,000.00 and a beta of 1.21. The stock’s 50 day simple moving average is $96.77 and its 200-day simple moving average is $123.55. Datadog has a 1-year low of $81.12 and a 1-year high of $199.68. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.33 and a quick ratio of 3.33.

Datadog (NASDAQ:DDOG – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.10. Datadog had a return on equity of 1.53% and a net margin of 0.17%. The firm had revenue of $363.03 million for the quarter, compared to the consensus estimate of $337.81 million. During the same quarter last year, the business posted ($0.03) earnings per share. The firm’s revenue was up 82.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Datadog will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Datadog news, Director Julie Richardson sold 3,906 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $93.69, for a total value of $365,953.14. Following the transaction, the director now directly owns 3,932 shares of the company’s stock, valued at approximately $368,389.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Julie Richardson sold 3,906 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $93.69, for a total value of $365,953.14. Following the transaction, the director now owns 3,932 shares in the company, valued at approximately $368,389.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Kerry Acocella sold 2,895 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $110.40, for a total transaction of $319,608.00. Following the completion of the transaction, the general counsel now owns 44,831 shares in the company, valued at approximately $4,949,342.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,257 shares of company stock valued at $9,402,192. 15.80% of the stock is owned by company insiders.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank N A MO purchased a new position in shares of Datadog in the 4th quarter worth about $25,000. Retirement Planning Co of New England Inc. purchased a new position in shares of Datadog in the 4th quarter worth about $27,000. Optimum Investment Advisors purchased a new stake in Datadog during the fourth quarter valued at about $27,000. Riverview Trust Co purchased a new stake in Datadog during the first quarter valued at about $27,000. Finally, SJS Investment Consulting Inc. purchased a new stake in shares of Datadog in the first quarter worth about $27,000. Institutional investors own 65.17% of the company’s stock.

About Datadog

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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.