Morgan Stanley Reiterates “Equal Weight” Rating for Datadog (NASDAQ:DDOG)

Datadog (NASDAQ:DDOG)‘s stock had its “equal weight” rating reiterated by equities research analysts at Morgan Stanley in a research note issued to investors on Thursday, MarketBeat.com reports. They currently have a $143.00 target price on the stock. Morgan Stanley’s target price would suggest a potential upside of 3.32% from the company’s current price.

DDOG has been the topic of a number of other research reports. Scotiabank cut their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Mizuho boosted their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Truist Financial cut Datadog from a “buy” rating to a “hold” rating and dropped their target price for the company from $170.00 to $150.00 in a research report on Tuesday, January 7th. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Thursday, November 7th. Finally, BNP Paribas started coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Datadog has an average rating of “Moderate Buy” and an average target price of $158.45.

Datadog Trading Up 1.2 %

DDOG opened at $138.40 on Thursday. The business’s fifty day simple moving average is $145.75 and its 200-day simple moving average is $128.57. The company has a market capitalization of $47.02 billion, a price-to-earnings ratio of 261.14, a PEG ratio of 16.31 and a beta of 1.14. Datadog has a 12-month low of $98.80 and a 12-month high of $170.08.

Insider Transactions at Datadog

In other news, President Amit Agarwal sold 150,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $126.03, for a total value of $18,904,500.00. Following the completion of the transaction, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. The trade was a 41.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the sale, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 617,679 shares of company stock worth $88,668,671 over the last 90 days. 11.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Datadog

Hedge funds have recently bought and sold shares of the stock. New Century Financial Group LLC increased its holdings in shares of Datadog by 64.8% during the 4th quarter. New Century Financial Group LLC now owns 3,493 shares of the company’s stock valued at $506,000 after purchasing an additional 1,373 shares in the last quarter. Donoghue Forlines LLC grew its position in Datadog by 196.3% during the fourth quarter. Donoghue Forlines LLC now owns 13,653 shares of the company’s stock valued at $1,951,000 after buying an additional 9,045 shares during the period. Avior Wealth Management LLC increased its holdings 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 buying an additional 81 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Datadog by 14.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,214 shares of the company’s stock worth $888,000 after acquiring an additional 764 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Datadog by 149.5% during the 4th quarter. SG Americas Securities LLC now owns 18,372 shares of the company’s stock worth $2,625,000 after acquiring an additional 11,009 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.