Datadog (NASDAQ:DDOG) Sets New 12-Month High – Still a Buy?

Datadog, Inc. (NASDAQ:DDOG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $157.48 and last traded at $154.39, with a volume of 4363795 shares trading hands. The stock had previously closed at $156.63.

Wall Street Analysts Forecast Growth

DDOG has been the topic of a number of research reports. DA Davidson boosted their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. TD Cowen reiterated a “buy” rating and issued a $165.00 target price on shares of Datadog in a research note on Tuesday, November 19th. Robert W. Baird upped their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Scotiabank reduced their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Finally, Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Datadog Stock Down 1.6 %

The company’s 50-day moving average is $127.47 and its two-hundred day moving average is $121.02. The company has a market cap of $51.62 billion, a P/E ratio of 286.72, a price-to-earnings-growth ratio of 20.50 and a beta of 1.10.

Insider Activity

In other news, CRO Sean Michael Walters sold 4,244 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $135.00, for a total value of $572,940.00. Following the completion of the transaction, the executive now directly owns 179,367 shares of the company’s stock, valued at $24,214,545. This trade represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the transaction, the director now owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. This trade represents a 16.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 541,491 shares of company stock valued at $68,927,496 in the last 90 days. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DDOG. B. Riley Wealth Advisors Inc. grew its stake in Datadog by 37.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,398 shares of the company’s stock valued at $420,000 after acquiring an additional 932 shares in the last quarter. Comerica Bank grew its position in shares of Datadog by 2.2% during the 1st quarter. Comerica Bank now owns 36,509 shares of the company’s stock valued at $4,513,000 after purchasing an additional 774 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Datadog in the first quarter worth $497,000. Swedbank AB purchased a new stake in shares of Datadog in the first quarter worth $12,912,000. Finally, Cetera Investment Advisers boosted its stake in Datadog by 150.1% during the first quarter. Cetera Investment Advisers now owns 33,880 shares of the company’s stock valued at $4,188,000 after buying an additional 20,336 shares during the period. Institutional investors own 78.29% of the company’s stock.

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.