Datadog (NASDAQ:DDOG) Sets New 12-Month High – Should You Buy?

Datadog, Inc. (NASDAQ:DDOG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $157.48 and last traded at $154.39, with a volume of 4363795 shares trading hands. The stock had previously closed at $156.63.

Analyst Ratings Changes

A number of equities analysts have commented on DDOG shares. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Thursday, November 7th. BNP Paribas began coverage on Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price objective for the company. Citigroup increased their price objective on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Scotiabank dropped their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Finally, Barclays lifted their price target on shares of Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Datadog Stock Performance

The stock has a market capitalization of $51.62 billion, a P/E ratio of 286.72, a PEG ratio of 20.50 and a beta of 1.10. The business has a 50-day moving average price of $127.47 and a 200 day moving average price of $121.02.

Insider Transactions at Datadog

In other news, CFO David M. Obstler sold 33,334 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $135.95, for a total transaction of $4,531,757.30. Following the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $42,709,780.10. This trade represents a 9.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Sean Michael Walters sold 4,244 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $135.00, for a total transaction of $572,940.00. Following the transaction, the executive now directly owns 179,367 shares of the company’s stock, valued at $24,214,545. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 541,491 shares of company stock valued at $68,927,496. Insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Large investors have recently added to or reduced their stakes in the stock. SouthState Corp bought a new position in Datadog in the 2nd quarter worth $26,000. True Wealth Design LLC grew its stake in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after acquiring an additional 240 shares during the period. 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 acquiring an additional 115 shares in the last quarter. Quarry LP purchased a new position in Datadog during the third quarter valued at approximately $33,000. Finally, Blue Trust Inc. bought a new position in Datadog in the 2nd quarter worth approximately $37,000. Institutional investors own 78.29% of the company’s stock.

Datadog Company Profile

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.