Truist Financial Issues Positive Forecast for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its price target raised by Truist Financial from $155.00 to $170.00 in a research report report published on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

DDOG has been the topic of a number of other research reports. Scotiabank decreased their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. UBS Group restated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. TD Cowen reiterated a “buy” rating and issued a $165.00 price target on shares of Datadog in a research note on Tuesday, November 19th. Macquarie initiated coverage on Datadog in a research report on Thursday. They issued an “outperform” rating and a $200.00 price objective on the stock. Finally, Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $155.07.

Datadog Stock Down 2.4 %

Shares of DDOG opened at $153.03 on Thursday. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The stock has a market cap of $51.99 billion, a price-to-earnings ratio of 288.74, a PEG ratio of 20.27 and a beta of 1.11. The business has a 50-day simple moving average of $136.72 and a two-hundred day simple moving average of $123.89.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated 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 sale, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This represents a 27.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 713,446 shares of company stock valued at $97,145,034 in the last ninety days. Insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Large investors have recently bought and sold shares of the business. SouthState Corp bought a new stake in Datadog during the 2nd quarter valued at about $26,000. True Wealth Design LLC lifted its stake in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares during the period. Meeder Asset Management Inc. raised its holdings in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Quarry LP purchased a new stake in Datadog during the third quarter valued at approximately $33,000. Finally, Blue Trust Inc. purchased a new stake in shares of Datadog during the 2nd quarter valued at $37,000. Hedge funds and other 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.