Datadog (NASDAQ:DDOG) Price Target Raised to $200.00 at Loop Capital

Datadog (NASDAQ:DDOG) had its price target lifted by Loop Capital from $160.00 to $200.00 in a research note published on Monday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on DDOG. BMO Capital Markets upped their price objective on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, November 7th. Scotiabank dropped their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. UBS Group reissued an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Finally, Macquarie started coverage on Datadog in a research note on Thursday, December 12th. They set an “outperform” rating and a $200.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average price target of $157.04.

Datadog Stock Down 1.3 %

Datadog stock opened at $147.46 on Monday. The business has a 50-day simple moving average of $139.29 and a 200 day simple moving average of $125.33. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The stock has a market cap of $50.10 billion, a price-to-earnings ratio of 278.23, a PEG ratio of 20.27 and a beta of 1.11.

Insider Activity

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the sale, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at approximately $43,476,219.45. The trade was a 27.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 740,588 shares of company stock valued at $101,329,606. Company insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC boosted its holdings in shares of Datadog by 172.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after buying an additional 24,574 shares in the last quarter. Heritage Investors Management Corp bought a new stake in Datadog during the third quarter worth about $1,157,000. Atom Investors LP purchased a new stake in Datadog in the third quarter worth about $1,112,000. Jennison Associates LLC increased its stake in shares of Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after purchasing an additional 126,613 shares in the last quarter. Finally, Parnassus Investments LLC lifted its holdings in shares of Datadog by 28.4% during the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after purchasing an additional 40,952 shares during the last quarter. 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.