Datadog (NASDAQ:DDOG) Stock Price Expected to Rise, DA Davidson Analyst Says

Datadog (NASDAQ:DDOG) had its price target raised by equities research analysts at DA Davidson from $115.00 to $125.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price target points to a potential upside of 17.75% from the stock’s current price.

Several other research analysts have also commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 target price on shares of Datadog in a research report on Tuesday, March 4th. Rosenblatt Securities dropped their target price on shares of Datadog from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Monday. Truist Financial decreased their price target on shares of Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a report on Monday, March 31st. Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. Finally, Morgan Stanley dropped their price target on Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average price target of $150.33.

Datadog Stock Performance

Shares of DDOG stock traded up $1.16 on Monday, hitting $106.16. The stock had a trading volume of 2,464,057 shares, compared to its average volume of 4,363,426. Datadog has a 52-week low of $81.63 and a 52-week high of $170.08. The firm has a market capitalization of $36.39 billion, a price-to-earnings ratio of 208.22, a P/E/G ratio of 44.03 and a beta of 1.12. The stock’s 50 day moving average is $100.95 and its 200-day moving average is $126.47.

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

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the transaction, the chief technology officer now owns 371,865 shares in the company, valued at approximately $37,986,009.75. This represents a 25.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the sale, the executive now directly owns 185,871 shares in the company, valued at $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 385,456 shares of company stock worth $39,018,715. 11.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Datadog

A number of large investors have recently bought and sold shares of DDOG. GAMMA Investing LLC grew its holdings in Datadog by 40.3% during the 4th quarter. GAMMA Investing LLC now owns 790 shares of the company’s stock worth $113,000 after acquiring an additional 227 shares during the period. Nordea Investment Management AB increased its position in shares of Datadog by 21.2% in the 4th quarter. Nordea Investment Management AB now owns 58,256 shares of the company’s stock valued at $8,376,000 after buying an additional 10,199 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Datadog by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,883 shares of the company’s stock worth $1,698,000 after acquiring an additional 137 shares in the last quarter. Green Alpha Advisors LLC raised its stake in shares of Datadog by 18.3% in the 4th quarter. Green Alpha Advisors LLC now owns 3,301 shares of the company’s stock valued at $472,000 after purchasing an additional 511 shares during the period. Finally, Kieckhefer Group LLC acquired a new position in Datadog during the 4th quarter worth approximately $43,000. 78.29% of the stock is currently owned by institutional investors.

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.