Truist Financial Has Lowered Expectations for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its price objective decreased by Truist Financial from $150.00 to $140.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 6.86% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Royal Bank of Canada raised their price target on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Jefferies Financial Group boosted their price target on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Wells Fargo & Company cut Datadog from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $152.00 to $140.00 in a report on Thursday. Finally, Sanford C. Bernstein lowered their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.39.

Datadog Trading Down 3.6 %

Shares of DDOG opened at $131.01 on Friday. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08. The stock has a market cap of $44.51 billion, a P/E ratio of 247.19, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15. The stock’s 50-day moving average price is $145.10 and its two-hundred day moving average price is $131.02.

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

Insider Buying and Selling at Datadog

In related news, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David M. Obstler sold 33,334 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $135.95, for a total value of $4,531,757.30. Following the completion of the sale, the chief financial officer now directly owns 314,158 shares of the company’s stock, valued at $42,709,780.10. The trade was a 9.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 627,586 shares of company stock worth $92,540,479 over the last ninety days. Insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Datadog by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after buying an additional 220,527 shares during the period. Baillie Gifford & Co. raised its position in shares of Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. Jennison Associates LLC raised its position in shares of Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Groupama Asset Managment raised its position in shares of Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Datadog by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after purchasing an additional 499,055 shares during 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.