Brokerages Set Datadog, Inc. (NASDAQ:DDOG) PT at $158.70

Datadog, Inc. (NASDAQ:DDOG) has received an average rating of “Moderate Buy” from the thirty-one brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $158.70.

Several equities analysts recently issued reports on the stock. TD Cowen restated a “buy” rating and set a $165.00 target price on shares of Datadog in a research report on Tuesday, November 19th. Cantor Fitzgerald initiated coverage on Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price target for the company. Macquarie reiterated an “outperform” rating and set a $200.00 price objective on shares of Datadog in a report on Tuesday, February 11th. Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $152.00 to $140.00 in a report on Thursday, February 13th. Finally, Jefferies Financial Group lifted their price target on shares of Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday, January 6th.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 19,226 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $153.73, for a total value of $2,955,612.98. Following the sale, the chief executive officer now owns 379,693 shares in the company, valued at approximately $58,370,204.89. This trade represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the sale, the director now owns 435,701 shares in the company, valued at approximately $67,642,580.25. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 526,449 shares of company stock valued at $70,345,130 over the last three months. Company insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC raised its position in shares of 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 buying an additional 24,574 shares in the last quarter. ARK Investment Management LLC raised its stake in shares of Datadog by 62.7% in the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after buying an additional 49,050 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after buying an additional 1,484,562 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in Datadog by 140.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock valued at $7,590,000 after buying an additional 30,998 shares in the last quarter. Finally, Atom Investors LP acquired a new position in Datadog during the third quarter worth about $1,112,000. 78.29% of the stock is currently owned by institutional investors.

Datadog Price Performance

Shares of DDOG opened at $98.68 on Tuesday. Datadog has a 1-year low of $98.30 and a 1-year high of $170.08. The stock has a market cap of $33.82 billion, a price-to-earnings ratio of 193.49, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. The firm has a 50 day simple moving average of $131.67 and a 200-day simple moving average of $131.22.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, equities analysts expect that Datadog will post 0.34 earnings per share for the current fiscal year.

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.