Truist Financial Has Lowered Expectations for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its price objective decreased by equities research analysts at Truist Financial from $140.00 to $120.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 18.74% from the company’s previous close.

Several other research firms also recently weighed in on DDOG. Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. Jefferies Financial Group increased their price objective on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. JMP Securities reissued a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Guggenheim restated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Finally, DA Davidson lifted their price target on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, February 10th. One 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.22.

Datadog Trading Up 1.9 %

Shares of NASDAQ DDOG opened at $101.06 on Monday. The company’s 50-day moving average price is $122.26 and its 200 day moving average price is $130.82. Datadog has a 52 week low of $96.63 and a 52 week high of $170.08. 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.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 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%. As a group, research analysts expect that Datadog will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total value of $3,528,000.00. Following the completion of the sale, the director now owns 195,667 shares of the company’s stock, valued at approximately $27,612,527.04. This represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock worth $75,444,584 over the last ninety days. 11.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Datadog

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC grew its position in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after acquiring an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog in the fourth quarter valued at $30,000. Avior Wealth Management LLC grew its holdings in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares in the last quarter. Putney Financial Group LLC purchased a new stake in Datadog during the 4th quarter worth $32,000. Finally, Quarry LP acquired a new position in Datadog in the 3rd quarter worth $33,000. 78.29% of the stock is 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.