Rosenblatt Securities Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG) had its price target increased by investment analysts at Rosenblatt Securities from $148.00 to $160.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ target price suggests a potential upside of 17.74% from the company’s current price.

Several other analysts also recently issued reports on the stock. DA Davidson raised their price objective on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday. Morgan Stanley reiterated an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research note on Thursday, January 16th. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and lowered their price target for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Barclays boosted their price objective on shares of Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Truist Financial lowered Datadog from a “buy” rating to a “hold” rating and reduced their target price for the stock from $170.00 to $150.00 in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.17.

Datadog Stock Performance

Shares of Datadog stock opened at $135.89 on Wednesday. The company has a fifty day moving average of $146.40 and a 200 day moving average of $130.89. The company has a market capitalization of $46.16 billion, a P/E ratio of 256.40, a P/E/G ratio of 16.83 and a beta of 1.15. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 7.58% and a return on equity of 9.41%. Analysts forecast that Datadog will post 0.53 EPS for the current year.

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. The trade was a 28.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the sale, the director now directly owns 435,701 shares of the company’s stock, valued at $67,642,580.25. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 627,586 shares of company stock valued at $92,540,479. 11.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Datadog

A number of institutional investors have recently made changes to their positions in DDOG. Allworth Financial LP grew its holdings in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after purchasing an additional 75 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Datadog by 21.4% in the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after buying an additional 80 shares during the period. Avior Wealth Management LLC lifted its position in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the last quarter. Pathstone Holdings LLC lifted its stake in Datadog by 0.4% during the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after purchasing an additional 91 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Datadog by 19.5% in the third quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after acquiring an additional 92 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.