DA Davidson Raises Datadog (NASDAQ:DDOG) Price Target to $150.00

Datadog (NASDAQ:DDOG) had its price target raised by DA Davidson from $140.00 to $150.00 in a report released on Friday,Benzinga reports. DA Davidson currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the stock. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $135.00 to $155.00 in a research report on Tuesday, July 16th. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday, November 7th. BNP Paribas started coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target for the company. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Thursday, August 1st. Finally, Evercore ISI began coverage on Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $122.36 on Friday. The firm has a market capitalization of $41.25 billion, a price-to-earnings ratio of 230.87, a price-to-earnings-growth ratio of 22.72 and a beta of 1.10. The business’s 50 day moving average price is $119.67 and its 200-day moving average price is $119.48. Datadog has a 1 year low of $98.80 and a 1 year high of $138.61.

Insider Buying and Selling

In other news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the completion of the sale, the director now owns 451,533 shares in the company, valued at approximately $57,195,685.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the transaction, the chief executive officer now directly owns 392,111 shares in the company, valued at approximately $48,076,729.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the completion of the sale, the director now owns 451,533 shares of the company’s stock, valued at approximately $57,195,685.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 317,186 shares of company stock worth $39,962,314 over the last 90 days. 11.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Heritage Investors Management Corp purchased a new position in Datadog in the 3rd quarter valued at $1,157,000. Vanguard Group Inc. boosted its holdings in shares of Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after acquiring an additional 171,693 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after acquiring an additional 344,431 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Datadog by 23.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock worth $19,635,000 after purchasing an additional 32,217 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its position in Datadog by 1,648.8% in the first quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock valued at $638,000 after purchasing an additional 4,864 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

About Datadog

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.