Stifel Nicolaus Raises Datadog (NASDAQ:DDOG) Price Target to $165.00

Datadog (NASDAQ:DDOG) had its price objective boosted by stock analysts at Stifel Nicolaus from $141.00 to $165.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 12.30% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Citigroup upped their price target on shares of Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Robert W. Baird upped their target price on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. BNP Paribas assumed coverage on shares of Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target for the company. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Thursday, November 7th. Finally, Macquarie assumed coverage on Datadog in a research report on Thursday, December 12th. They set an “outperform” rating and a $200.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $155.56.

Datadog Stock Down 2.2 %

Shares of Datadog stock opened at $146.93 on Wednesday. The stock’s fifty day moving average is $138.90 and its two-hundred day moving average is $124.84. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The company has a market capitalization of $49.92 billion, a PE ratio of 277.23, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11.

Insider Activity at Datadog

In other Datadog news, General Counsel Kerry Acocella sold 2,452 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.06, for a total transaction of $294,387.12. Following the transaction, the general counsel now owns 74,421 shares in the company, valued at approximately $8,934,985.26. This represents a 3.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the sale, the director now owns 459,449 shares of the company’s stock, valued at $55,143,068.98. The trade was a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 721,362 shares of company stock valued at $98,373,993 in the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SouthState Corp purchased a new stake in Datadog during the 2nd quarter valued at about $26,000. True Wealth Design LLC boosted its position in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the period. Quarry LP purchased a new position in Datadog during the 3rd quarter worth approximately $33,000. Finally, Blue Trust Inc. acquired a new stake in Datadog during the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

About Datadog

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.