Datadog (NASDAQ:DDOG) Stock Rating Lowered by Stifel Nicolaus

Datadog (NASDAQ:DDOG) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They currently have a $140.00 price target on the stock, down from their prior price target of $165.00. Stifel Nicolaus’ price target indicates a potential downside of 1.83% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Scotiabank reduced their price target on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Robert W. Baird lifted their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada upped their target price on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Rosenblatt Securities lifted their price target on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.59.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $142.61 on Wednesday. The stock has a market capitalization of $48.45 billion, a PE ratio of 269.08, a P/E/G ratio of 16.28 and a beta of 1.14. 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 price of $148.26 and a two-hundred day moving average price of $129.30.

Insiders Place Their Bets

In other Datadog news, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the sale, the director now directly owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. The trade was a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the transaction, the president now directly owns 214,275 shares in the company, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 653,874 shares of company stock worth $93,721,154. 11.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Datadog

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