Datadog (NASDAQ:DDOG) Price Target Raised to $170.00 at Royal Bank of Canada

Datadog (NASDAQ:DDOG) had its price target increased by Royal Bank of Canada from $151.00 to $170.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 17.38% from the company’s current price.

Several other research firms have also issued reports on DDOG. DA Davidson boosted their target price on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. UBS Group restated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. BMO Capital Markets increased their target price on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Robert W. Baird boosted their price target on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $157.74.

Datadog Stock Up 0.8 %

Shares of Datadog stock opened at $144.83 on Friday. The business has a fifty day simple moving average of $143.24 and a 200 day simple moving average of $127.31. The stock has a market cap of $49.20 billion, a PE ratio of 273.27, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11. Datadog has a 12 month low of $98.80 and a 12 month high of $170.08.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the sale, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the completion of the sale, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at approximately $43,476,219.45. The trade was a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 747,304 shares of company stock worth $102,834,812 over the last quarter. 11.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Datadog

A number of large investors have recently added to or reduced their stakes in the business. SouthState Corp acquired a new position in shares of Datadog in the second quarter valued at $26,000. True Wealth Design LLC boosted its holdings 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 worth $28,000 after buying an additional 240 shares during the period. Meeder Asset Management Inc. grew its stake in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. Quarry LP bought a new position in Datadog in the 3rd quarter valued at about $33,000. Finally, American National Bank & Trust acquired a new stake in Datadog during the third quarter worth approximately $39,000. 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.