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

Datadog (NASDAQ:DDOGGet Free Report) had its target price boosted by Citigroup from $157.00 to $170.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 22.83% from the stock’s previous close.

Several other analysts also recently weighed in on the company. UBS Group reiterated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. TD Cowen reiterated a “buy” rating and issued a $165.00 target price on shares of Datadog in a research report on Tuesday, November 19th. Cantor Fitzgerald initiated coverage on shares of Datadog in a research report on Friday. They set an “overweight” rating and a $180.00 price target for the company. Royal Bank of Canada upped their price objective on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $143.00 target price on shares of Datadog in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.45.

Read Our Latest Report on DDOG

Datadog Trading Up 1.2 %

NASDAQ:DDOG opened at $138.40 on Friday. The company has a market capitalization of $47.02 billion, a P/E ratio of 261.14, a PEG ratio of 16.31 and a beta of 1.14. Datadog has a 12 month low of $98.80 and a 12 month high of $170.08. The firm has a fifty day simple moving average of $146.03 and a 200-day simple moving average of $128.62.

Insider Buying and Selling

In related news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the completion of the sale, the director now directly owns 427,785 shares in the company, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of the transaction, the general counsel now directly owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,679 shares of company stock worth $88,668,671 in the last 90 days. Insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of institutional investors and hedge funds have recently bought and sold shares of DDOG. Holocene Advisors LP lifted its stake in Datadog by 205.2% in the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Datadog by 1,597.9% in the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after purchasing an additional 739,011 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in Datadog during the third quarter worth approximately $52,561,000. Eagle Asset Management Inc. boosted its stake in Datadog by 72.4% during the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock worth $113,844,000 after buying an additional 384,121 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in Datadog by 129.2% in the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after buying an additional 344,431 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Company Profile

(Get Free Report)

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.

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