Datadog (NASDAQ:DDOG) Price Target Raised to $170.00

Datadog (NASDAQ:DDOG) had its target price boosted by Mizuho from $155.00 to $170.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also commented on DDOG. TD Cowen reaffirmed a “buy” rating and issued a $165.00 price target on shares of Datadog in a research note on Tuesday, November 19th. Sanford C. Bernstein reduced their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. BMO Capital Markets upped 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. UBS Group reissued an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Finally, BNP Paribas initiated coverage on shares of Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $155.07.

Datadog Trading Down 2.4 %

NASDAQ DDOG opened at $153.03 on Friday. Datadog has a 1-year low of $98.80 and a 1-year high of $170.08. The company has a market capitalization 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 stock’s 50 day moving average is $136.72 and its two-hundred day moving average is $123.90.

Insider Buying and Selling

In other Datadog news, President Amit Agarwal sold 150,000 shares of the 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 sale, the president now directly owns 214,275 shares in the company, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 392,111 shares of the company’s stock, valued at $48,076,729.71. This trade represents a 17.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 713,446 shares of company stock valued at $97,145,034 in the last 90 days. 11.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Datadog

Institutional investors and hedge funds have recently modified their holdings of the business. Peapack Gladstone Financial Corp lifted its stake in Datadog by 39.9% in the third quarter. Peapack Gladstone Financial Corp now owns 5,140 shares of the company’s stock valued at $591,000 after buying an additional 1,465 shares in the last quarter. Tidal Investments LLC lifted its position in Datadog by 27.6% in the 3rd quarter. Tidal Investments LLC now owns 28,295 shares of the company’s stock valued at $3,256,000 after acquiring an additional 6,119 shares in the last quarter. Blankinship & Foster LLC bought a new stake in Datadog in the 3rd quarter valued at $351,000. Wilmington Savings Fund Society FSB acquired a new position in Datadog in the 3rd quarter worth $625,000. Finally, Sanctuary Advisors LLC increased its holdings in Datadog by 106.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 15,018 shares of the company’s stock worth $1,728,000 after purchasing an additional 7,757 shares in the last quarter. 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.