Cantor Fitzgerald Initiates Coverage on Datadog (NASDAQ:DDOG)

Cantor Fitzgerald initiated coverage on shares of Datadog (NASDAQ:DDOG) in a note issued to investors on Friday, MarketBeat reports. The firm set an “overweight” rating and a $180.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 30.06% from the stock’s current price.

Other analysts also recently issued research reports about the company. Mizuho raised their price target on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Jefferies Financial Group raised their target price on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. TD Cowen reissued a “buy” rating and set a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. Stifel Nicolaus increased their price objective on shares of Datadog from $141.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $143.00 target price on shares of Datadog in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.45.

Datadog Stock Up 1.2 %

DDOG opened at $138.40 on Friday. The company’s 50-day moving average price is $146.03 and its 200 day moving average price is $128.62. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The firm has a market cap of $47.02 billion, a price-to-earnings ratio of 261.14, a price-to-earnings-growth ratio of 16.31 and a beta of 1.14.

Insider Activity at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the completion of the sale, the director now directly owns 427,785 shares of the company’s stock, valued at $60,796,804.20. This represents a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Matthew Jacobson sold 3,393 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the transaction, the director now owns 695,086 shares of the company’s stock, valued at $86,906,602.58. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,679 shares of company stock valued at $88,668,671 over the last ninety days. Insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

A number of large investors have recently made changes to their positions in DDOG. Jennison Associates LLC grew its position in Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after purchasing an additional 126,613 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Datadog by 2.5% during the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after buying an additional 125,457 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Datadog by 5.9% during the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after buying an additional 138,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Datadog by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock worth $232,988,000 after acquiring an additional 46,746 shares in the last quarter. Finally, Holocene Advisors LP boosted its position in Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after acquiring an additional 1,097,815 shares during the period. Institutional investors and hedge funds 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.