Datadog (NASDAQ:DDOG) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Datadog (NASDAQ:DDOG) had its price objective increased by equities researchers at Stifel Nicolaus from $141.00 to $165.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 12.30% from the company’s previous close.

DDOG has been the subject of several other reports. Citigroup lifted their target price on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a report on Friday, November 8th. Macquarie started coverage on shares of Datadog in a report on Thursday, December 12th. They issued an “outperform” rating and a $200.00 price objective for the company. DA Davidson increased their target price on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Robert W. Baird lifted their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets increased their price target on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.56.

Datadog Stock Down 2.2 %

Datadog stock opened at $146.93 on Wednesday. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The firm has a market cap of $49.92 billion, a price-to-earnings ratio of 277.23, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11. The business’s 50-day moving average price is $138.90 and its 200 day moving average price is $124.84.

Insider Transactions at Datadog

In related news, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction that occurred 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 transaction, the director now owns 459,449 shares in the company, valued at approximately $55,143,068.98. This trade represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Sean Michael Walters sold 2,322 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total value of $290,250.00. Following the completion of the sale, the executive now owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. The trade was a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 721,362 shares of company stock worth $98,373,993 in the last ninety days. Insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Institutional investors and hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its position in shares of Datadog by 172.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after purchasing an additional 24,574 shares during the last quarter. Heritage Investors Management Corp acquired a new position in Datadog in the third quarter valued at about $1,157,000. Atom Investors LP purchased a new position in Datadog during the third quarter worth about $1,112,000. Jennison Associates LLC increased its position in shares of Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after acquiring an additional 126,613 shares during the last quarter. Finally, Parnassus Investments LLC raised its stake in shares of Datadog by 28.4% in the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after acquiring an additional 40,952 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.