Datadog (NASDAQ:DDOG) Price Target Raised to $187.00

Datadog (NASDAQ:DDOG) had its price objective raised by Barclays from $155.00 to $187.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on the stock. Citigroup upped their target price on shares of Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a report on Thursday, November 7th. Needham & Company LLC decreased their price target on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Sanford C. Bernstein dropped their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Finally, TD Cowen reiterated a “buy” rating and issued a $165.00 price objective on shares of Datadog in a report on Tuesday, November 19th. One 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $152.19.

Datadog Stock Up 3.2 %

Shares of DDOG opened at $168.65 on Friday. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The stock has a market cap of $57.29 billion, a P/E ratio of 318.21, a P/E/G ratio of 21.49 and a beta of 1.11. The business’s 50 day moving average price is $132.79 and its 200-day moving average price is $122.71.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the completion of the transaction, the chief technology officer now owns 336,165 shares of the company’s stock, valued at approximately $43,476,219.45. This trade represents a 27.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the transaction, the general counsel now owns 68,758 shares in the company, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 543,979 shares of company stock worth $69,320,699. Insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Large investors have recently made changes to their positions in the stock. Holocene Advisors LP lifted its holdings in shares of Datadog by 205.2% in the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after buying an additional 1,097,815 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Datadog by 1,597.9% in the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after acquiring an additional 739,011 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in Datadog in the third quarter worth about $52,561,000. Eagle Asset Management Inc. grew its holdings in Datadog by 72.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock worth $113,844,000 after acquiring an additional 384,121 shares in the last quarter. Finally, Bank of Montreal Can increased its position in Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after purchasing an additional 344,431 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.