Datadog (NASDAQ:DDOG) Hits New 1-Year Low After Analyst Downgrade

Datadog, Inc. (NASDAQ:DDOG) shares reached a new 52-week low on Monday after Jefferies Financial Group lowered their price target on the stock from $170.00 to $150.00. Jefferies Financial Group currently has a buy rating on the stock. Datadog traded as low as $96.63 and last traded at $98.17, with a volume of 441769 shares trading hands. The stock had previously closed at $101.10.

A number of other analysts also recently weighed in on the stock. Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and reduced their price target for the company from $165.00 to $140.00 in a report on Wednesday, January 29th. Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. Mizuho upped their price target on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup reduced their price objective on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Finally, JMP Securities restated a “market perform” rating on shares of Datadog in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.22.

Insider Activity at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the transaction, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % 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, CEO Olivier Pomel sold 107,365 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $109.56, for a total value of $11,762,909.40. Following the sale, the chief executive officer now directly owns 435,793 shares of the company’s stock, valued at $47,745,481.08. This represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock valued at $75,444,584 over the last quarter. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

A number of institutional investors have recently bought and sold shares of the business. True Wealth Design LLC boosted its position in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Datadog in the fourth quarter valued at about $30,000. Avior Wealth Management LLC boosted its holdings in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares during the last quarter. Putney Financial Group LLC acquired a new position in shares of Datadog during the 4th quarter worth about $32,000. Finally, Quarry LP bought a new stake in shares of Datadog in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Performance

The business’s 50-day moving average is $123.01 and its two-hundred day moving average is $130.88. The firm has a market capitalization of $34.01 billion, a price-to-earnings ratio of 194.53, a P/E/G ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

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.