Datadog (NASDAQ:DDOG) Price Target Raised to $125.00 at DA Davidson

Datadog (NASDAQ:DDOG) had its price objective raised by DA Davidson from $115.00 to $125.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on DDOG. JMP Securities reiterated a “market perform” rating on shares of Datadog in a report on Friday, February 14th. Rosenblatt Securities cut their target price on shares of Datadog from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Monday. Needham & Company LLC restated a “buy” rating and set a $160.00 price target on shares of Datadog in a report on Tuesday, March 4th. Citigroup cut 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. Finally, Guggenheim restated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average price target of $150.33.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $105.70 on Monday. The firm has a market capitalization of $36.23 billion, a PE ratio of 207.26, a P/E/G ratio of 44.03 and a beta of 1.12. Datadog has a 1-year low of $81.63 and a 1-year high of $170.08. The business’s fifty day moving average price is $100.79 and its two-hundred day moving average price is $126.32.

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

Insider Transactions at Datadog

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the sale, the executive now owns 185,871 shares in the company, valued at $18,966,276.84. The trade was a 4.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amit Agarwal sold 10,167 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the completion of the transaction, the director now directly owns 82,324 shares of the company’s stock, valued at approximately $9,538,058.64. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 385,456 shares of company stock worth $39,018,715 in the last 90 days. 11.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Datadog

A number of institutional investors and hedge funds have recently modified their holdings of the stock. OVERSEA CHINESE BANKING Corp Ltd grew its position in Datadog by 887.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company’s stock valued at $25,000 after acquiring an additional 22,646 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog during the fourth quarter worth approximately $30,000. Cornerstone Planning Group LLC raised its stake in shares of Datadog by 96.9% during the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock valued at $30,000 after acquiring an additional 154 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the period. Finally, Putney Financial Group LLC purchased a new position in Datadog during the 4th quarter worth $32,000. 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.