Datadog (NASDAQ:DDOG) Coverage Initiated at Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald assumed coverage on shares of Datadog (NASDAQ:DDOG) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $180.00 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 30.06% from the company’s previous close.

Other analysts have also issued research reports about the stock. Morgan Stanley restated an “equal weight” rating and set a $143.00 target price on shares of Datadog in a research report on Thursday. Stifel Nicolaus lifted their price objective on Datadog from $141.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group upped their target price on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Truist Financial lowered Datadog from a “buy” rating to a “hold” rating and decreased their price target for the stock from $170.00 to $150.00 in a research note on Tuesday, January 7th. Finally, TD Cowen reaffirmed a “buy” rating and set a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $158.45.

Datadog Price Performance

Datadog stock opened at $138.40 on Friday. The stock has a market capitalization of $47.02 billion, a P/E ratio of 261.14, a P/E/G 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’s 50-day moving average is $146.03 and its two-hundred day moving average is $128.62.

Insider Activity at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the transaction, the director now owns 435,701 shares in the company, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the sale, the president now owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 617,679 shares of company stock valued at $88,668,671. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC increased 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 worth about $30,000. Avior Wealth Management LLC increased its holdings in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares in the last quarter. Finally, Quarry LP bought a new position in Datadog during the 3rd quarter worth approximately $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

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.