Datadog (NASDAQ:DDOG) Hits New 52-Week Low Following Analyst Downgrade

Shares of Datadog, Inc. (NASDAQ:DDOG) reached a new 52-week low on Monday after Jefferies Financial Group lowered their price target on the stock from $170.00 to $150.00. Jefferies Financial Group currently has a buy rating on the stock. Datadog traded as low as $96.63 and last traded at $98.17, with a volume of 441769 shares. The stock had previously closed at $101.10.

Several other research analysts have also recently issued reports on the stock. Guggenheim reiterated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Loop Capital lifted their target price on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Macquarie restated an “outperform” rating and set a $200.00 price target on shares of Datadog in a report on Tuesday, February 11th. Mizuho raised their target price on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Wells Fargo & Company cut 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 research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $157.22.

Insider Activity at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 427,785 shares in the company, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the transaction, the chief technology officer now owns 371,865 shares of the company’s stock, valued at approximately $37,986,009.75. This represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 601,412 shares of company stock valued at $75,444,584 over the last ninety days. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

Large investors have recently made changes to their positions in the company. Townsquare Capital LLC grew its position in shares of Datadog by 50.5% in the 3rd quarter. Townsquare Capital LLC now owns 2,871 shares of the company’s stock valued at $330,000 after purchasing an additional 963 shares during the period. CreativeOne Wealth LLC acquired a new position in Datadog during the third quarter worth $302,000. Rockefeller Capital Management L.P. grew its holdings in shares of Datadog by 3.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 15,172 shares of the company’s stock valued at $1,746,000 after acquiring an additional 511 shares in the last quarter. Captrust Financial Advisors grew its stake in Datadog by 16.5% in the third quarter. Captrust Financial Advisors now owns 9,513 shares of the company’s stock valued at $1,095,000 after purchasing an additional 1,349 shares in the last quarter. Finally, True Wealth Design LLC raised its stake in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Up 1.9 %

The stock has a market cap of $34.64 billion, a price-to-earnings ratio of 198.16, a PEG ratio of 44.03 and a beta of 1.22. The business’s 50 day simple moving average is $122.26 and its 200 day simple moving average is $130.82.

Datadog (NASDAQ:DDOG) last released 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%. Equities research analysts forecast that Datadog, Inc. 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.