Datadog (NASDAQ:DDOG) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Datadog (NASDAQ:DDOG) had its price target upped by research analysts at Jefferies Financial Group from $155.00 to $170.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 20.23% from the company’s previous close.

Several other brokerages also recently weighed in on DDOG. Scotiabank cut their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Sanford C. Bernstein cut their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. TD Cowen reissued a “buy” rating and set a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. Royal Bank of Canada lifted their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, BNP Paribas assumed coverage on Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.46.

Datadog Stock Down 3.2 %

NASDAQ DDOG opened at $141.40 on Monday. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The business has a fifty day moving average of $143.88 and a 200-day moving average of $127.84. The stock has a market cap of $48.04 billion, a price-to-earnings ratio of 266.80, a price-to-earnings-growth ratio of 20.27 and a beta of 1.14.

Insider Activity at Datadog

In other news, CFO David M. Obstler sold 33,333 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $130.39, for a total transaction of $4,346,289.87. Following the transaction, the chief financial officer now directly owns 314,158 shares of the company’s stock, valued at approximately $40,963,061.62. The trade was a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 626,012 shares of company stock worth $87,854,652. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

A number of institutional investors have recently modified their holdings of DDOG. National Bank of Canada FI raised its stake in Datadog by 12.4% during the second quarter. National Bank of Canada FI now owns 29,420 shares of the company’s stock valued at $3,839,000 after buying an additional 3,254 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Datadog by 1.5% during the second quarter. Victory Capital Management Inc. now owns 235,293 shares of the company’s stock worth $30,515,000 after purchasing an additional 3,543 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Datadog by 0.7% in the second quarter. Private Advisor Group LLC now owns 28,874 shares of the company’s stock worth $3,745,000 after purchasing an additional 187 shares during the period. Acadian Asset Management LLC increased its stake in Datadog by 472.8% during the second quarter. Acadian Asset Management LLC now owns 81,228 shares of the company’s stock valued at $10,528,000 after purchasing an additional 67,048 shares during the last quarter. Finally, Caprock Group LLC raised its holdings in shares of Datadog by 59.2% during the second quarter. Caprock Group LLC now owns 4,107 shares of the company’s stock worth $533,000 after purchasing an additional 1,528 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.