KeyCorp Lowers Datadog (NASDAQ:DDOG) Price Target to $155.00

Datadog (NASDAQ:DDOG) had its price target reduced by equities researchers at KeyCorp from $170.00 to $155.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 45.23% from the company’s current price.

A number of other analysts have also recently commented on DDOG. Daiwa Capital Markets assumed coverage on Datadog in a research report on Tuesday, January 27th. They set a “buy” rating and a $190.00 price target for the company. Needham & Company LLC upped their target price on Datadog from $175.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Morgan Stanley raised their price target on shares of Datadog from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. CIBC raised shares of Datadog from a “neutral” rating to a “sector outperform” rating and set a $240.00 price objective on the stock in a report on Friday, November 7th. Finally, BTIG Research increased their price objective on shares of Datadog from $184.00 to $221.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Thirty-five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $188.97.

Datadog Stock Down 7.8%

NASDAQ:DDOG opened at $106.73 on Wednesday. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 0.29. Datadog has a twelve month low of $81.63 and a twelve month high of $201.69. The company has a market cap of $37.43 billion, a PE ratio of 344.29, a P/E/G ratio of 20.67 and a beta of 1.27. The company’s 50 day moving average is $136.25 and its two-hundred day moving average is $144.66.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.10. The business had revenue of $885.65 million during the quarter, compared to analysts’ expectations of $852.77 million. Datadog had a net margin of 3.32% and a return on equity of 4.14%. During the same quarter last year, the company posted $0.46 earnings per share. The business’s quarterly revenue was up 28.4% on a year-over-year basis. Analysts anticipate that Datadog will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 53,912 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $197.99, for a total transaction of $10,674,036.88. Following the sale, the chief technology officer directly owned 395,661 shares of the company’s stock, valued at $78,336,921.39. This represents a 11.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew Jacobson sold 404,306 shares of Datadog stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $199.60, for a total value of $80,699,477.60. Following the completion of the transaction, the director owned 12,859 shares of the company’s stock, valued at approximately $2,566,656.40. This represents a 96.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,028,945 shares of company stock worth $184,544,256. Company insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DDOG. Rothschild Investment LLC raised its position in Datadog by 126.6% during the third quarter. Rothschild Investment LLC now owns 179 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Physician Wealth Advisors Inc. raised its position in shares of Datadog by 315.2% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 191 shares of the company’s stock worth $27,000 after purchasing an additional 145 shares during the last quarter. Westside Investment Management Inc. lifted its stake in Datadog by 74.3% in the 3rd quarter. Westside Investment Management Inc. now owns 176 shares of the company’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Datadog in the 3rd quarter worth about $27,000. Finally, Tripletail Wealth Management LLC purchased a new stake in Datadog during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

About Datadog

Datadog (NASDAQ: DDOG) is a cloud-based monitoring and observability platform that helps organizations monitor, troubleshoot and secure their applications and infrastructure at scale. Its software-as-a-service offering collects and analyzes metrics, traces and logs from servers, containers, cloud services and applications to provide real-time visibility into system performance and health. Datadog’s platform is widely used by engineering, operations and security teams to reduce downtime, accelerate incident response and improve application reliability.

The company’s product suite includes infrastructure monitoring, application performance monitoring (APM), log management, real user monitoring (RUM), synthetic monitoring and network performance monitoring, along with security-focused products such as security monitoring and cloud SIEM.