Datadog (NASDAQ:DDOG) Given New $157.00 Price Target at Citigroup

Datadog (NASDAQ:DDOG) had its price objective raised by Citigroup from $150.00 to $157.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on DDOG. Royal Bank of Canada reiterated an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a research report on Friday, August 9th. Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Needham & Company LLC lowered their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. TD Cowen lifted their price target on Datadog from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Friday. Finally, BNP Paribas began coverage on shares of Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $150.96.

Datadog Stock Performance

DDOG stock opened at $122.36 on Friday. The stock has a market cap of $41.25 billion, a P/E ratio of 230.87, a P/E/G ratio of 22.72 and a beta of 1.10. Datadog has a 52 week low of $98.80 and a 52 week high of $138.61. The firm has a 50 day simple moving average of $119.67 and a 200 day simple moving average of $119.48.

Insider Buying and Selling at Datadog

In other news, General Counsel Kerry Acocella sold 2,452 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.06, for a total transaction of $294,387.12. Following the transaction, the general counsel now owns 74,421 shares in the company, valued at $8,934,985.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $129.33, for a total value of $16,438,489.65. Following the transaction, the chief technology officer now owns 336,165 shares in the company, valued at approximately $43,476,219.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Kerry Acocella sold 2,452 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.06, for a total transaction of $294,387.12. Following the completion of the transaction, the general counsel now directly owns 74,421 shares in the company, valued at $8,934,985.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 317,186 shares of company stock worth $39,962,314. Insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC boosted its stake in shares of Datadog by 14.8% in the third quarter. Intech Investment Management LLC now owns 16,084 shares of the company’s stock valued at $1,851,000 after buying an additional 2,069 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of Datadog by 3.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 8,237 shares of the company’s stock worth $948,000 after purchasing an additional 282 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Datadog by 15.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 940 shares of the company’s stock valued at $108,000 after purchasing an additional 127 shares in the last quarter. Kirtland Hills Capital Management LLC grew its position in Datadog by 28.4% during the third quarter. Kirtland Hills Capital Management LLC now owns 3,368 shares of the company’s stock worth $388,000 after buying an additional 744 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after acquiring an additional 126,613 shares during the period. 78.29% of the stock is owned by hedge funds and other 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.