Wells Fargo & Company Cuts Datadog (NASDAQ:DDOG) Price Target to $115.00

Datadog (NASDAQ:DDOG) had its price objective trimmed by Wells Fargo & Company from $140.00 to $115.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

DDOG has been the subject of several other research reports. Canaccord Genuity Group dropped their target price on Datadog from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday. Macquarie reiterated an “outperform” rating and issued a $200.00 target price on shares of Datadog in a research note on Tuesday, February 11th. Guggenheim reissued a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Barclays lifted their price objective on shares of Datadog from $125.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and dropped their target price for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Datadog presently has an average rating of “Moderate Buy” and an average price target of $141.54.

Datadog Stock Performance

Shares of Datadog stock opened at $107.88 on Wednesday. Datadog has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The company has a market capitalization of $36.98 billion, a P/E ratio of 211.53, a P/E/G ratio of 44.03 and a beta of 1.12. The company has a fifty day moving average of $100.20 and a 200 day moving average of $125.81.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. Analysts forecast that Datadog will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 47,306 shares of Datadog stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total value of $5,080,664.40. Following the completion of the transaction, the director now owns 25,468 shares in the company, valued at approximately $2,735,263.20. This trade represents a 65.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the transaction, the chief technology officer now owns 371,865 shares of the company’s stock, valued at $37,986,009.75. This represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 559,867 shares of company stock worth $57,550,902 over the last three months. Company insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Hedge funds and other institutional investors have recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in Datadog during the 4th quarter worth about $30,000. Putney Financial Group LLC acquired a new stake in Datadog during the 4th quarter worth $32,000. Avior Wealth Management LLC lifted its position in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares during the last quarter. Elequin Capital LP acquired a new position in Datadog in the fourth quarter valued at $34,000. Finally, Coppell Advisory Solutions LLC grew its holdings in shares of Datadog by 178.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock worth $40,000 after purchasing an additional 177 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

About Datadog

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.