Datadog (NASDAQ:DDOG) Price Target Lowered to $150.00 at Royal Bank Of Canada

Datadog (NASDAQ:DDOG) had its price objective reduced by Royal Bank Of Canada from $175.00 to $150.00 in a report issued on Monday, Marketbeat reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Daiwa Securities Group assumed coverage on shares of Datadog in a research report on Tuesday, January 27th. They issued a “buy” rating and a $190.00 price target on the stock. TD Cowen restated a “buy” rating on shares of Datadog in a report on Wednesday, January 21st. Needham & Company LLC upped their price target on Datadog from $175.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. DA Davidson reissued a “buy” rating and issued a $225.00 price target on shares of Datadog in a research report on Monday, February 2nd. Finally, KeyCorp dropped their price objective on Datadog from $170.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Thirty-six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.00.

Datadog Stock Performance

DDOG opened at $114.01 on Monday. Datadog has a 1-year low of $81.63 and a 1-year high of $201.69. The company has a market cap of $39.98 billion, a price-to-earnings ratio of 367.77, a PEG ratio of 19.95 and a beta of 1.27. The company’s fifty day moving average price is $134.40 and its two-hundred day moving average price is $144.20. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 0.29.

Insider Activity at Datadog

In other Datadog news, COO Adam Blitzer sold 8,023 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $154.61, for a total value of $1,240,436.03. Following the completion of the sale, the chief operating officer directly owned 165,197 shares of the company’s stock, valued at $25,541,108.17. This trade represents a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $124.89, for a total value of $988,629.24. Following the completion of the sale, the director owned 340,701 shares in the company, valued at approximately $42,550,147.89. The trade was a 2.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 538,917 shares of company stock worth $86,804,288. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several large investors have recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC boosted its position in Datadog by 3.3% during the third quarter. Elevation Point Wealth Partners LLC now owns 1,697 shares of the company’s stock worth $242,000 after purchasing an additional 55 shares during the period. Chicago Partners Investment Group LLC lifted its stake in shares of Datadog by 1.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 4,778 shares of the company’s stock valued at $622,000 after buying an additional 73 shares in the last quarter. Vivaldi Capital Management LP lifted its stake in shares of Datadog by 2.8% during the 3rd quarter. Vivaldi Capital Management LP now owns 2,689 shares of the company’s stock valued at $383,000 after buying an additional 74 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in Datadog by 74.3% in the 3rd quarter. Westside Investment Management Inc. now owns 176 shares of the company’s stock worth $27,000 after buying an additional 75 shares during the period. Finally, Nilsine Partners LLC grew its stake in Datadog by 2.4% in the 3rd quarter. Nilsine Partners LLC now owns 3,396 shares of the company’s stock valued at $484,000 after buying an additional 78 shares in the last quarter. 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.