TD Cowen Reaffirms Buy Rating for Datadog (NASDAQ:DDOG)

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating restated by research analysts at TD Cowen in a report released on Tuesday,Benzinga reports. They currently have a $165.00 target price on the stock. TD Cowen’s target price would suggest a potential upside of 21.82% from the stock’s previous close.

DDOG has been the subject of a number of other research reports. DA Davidson upped their price target on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. BNP Paribas assumed coverage on shares of Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Datadog in a report on Monday, July 22nd. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Needham & Company LLC cut their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.96.

Datadog Stock Up 1.5 %

NASDAQ DDOG opened at $135.45 on Tuesday. The company has a market capitalization of $46.02 billion, a P/E ratio of 255.57, a P/E/G ratio of 18.85 and a beta of 1.10. Datadog has a 12-month low of $98.80 and a 12-month high of $138.61. The firm has a 50-day moving average price of $122.62 and a two-hundred day moving average price of $119.61.

Insider Activity

In other news, President Amit Agarwal sold 150,000 shares of Datadog stock in a transaction on Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the completion of the sale, the president now owns 214,275 shares in the company, valued at $27,005,078.25. The trade was a 41.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the sale, the executive now owns 183,512 shares of the company’s stock, valued at $22,939,000. This trade represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 470,579 shares of company stock worth $59,291,041 in the last quarter. 11.78% of the stock is owned by corporate insiders.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently bought and sold shares of DDOG. Los Angeles Capital Management LLC boosted its holdings in 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 acquiring an additional 24,574 shares during the last quarter. Heritage Investors Management Corp purchased a new position in Datadog during the 3rd quarter worth $1,157,000. Parnassus Investments LLC boosted its holdings in Datadog by 28.4% during the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after acquiring an additional 40,952 shares during the last quarter. Bank of Montreal Can boosted its holdings in Datadog by 129.2% during the 2nd 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Datadog by 23.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock worth $19,635,000 after acquiring an additional 32,217 shares during the last quarter. 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.