Citigroup Has Lowered Expectations for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its target price cut by stock analysts at Citigroup from $170.00 to $165.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 25.94% from the stock’s current price.

Several other research firms also recently commented on DDOG. Jefferies Financial Group raised their target price on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Scotiabank decreased their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of Datadog in a research note on Friday. Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research report on Thursday, January 16th. Finally, Loop Capital upped their price objective on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Datadog has an average rating of “Moderate Buy” and an average price target of $158.39.

Datadog Stock Performance

Shares of DDOG stock opened at $131.01 on Friday. The stock’s 50 day simple moving average is $145.10 and its 200 day simple moving average is $131.02. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08. The company has a market capitalization of $44.51 billion, a price-to-earnings ratio of 247.19, a PEG ratio of 16.83 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 7.58% and a return on equity of 9.41%. On average, analysts forecast that Datadog will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 11,195 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total value of $1,565,732.70. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $53,103,862.98. This represents a 2.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 627,586 shares of company stock valued at $92,540,479 over the last 90 days. 11.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Inspire Investing LLC grew its stake in shares of Datadog by 22.0% in the 3rd quarter. Inspire Investing LLC now owns 2,484 shares of the company’s stock valued at $286,000 after buying an additional 448 shares during the period. Creative Planning grew its stake in shares of Datadog by 17.6% in the 3rd quarter. Creative Planning now owns 17,141 shares of the company’s stock valued at $1,972,000 after buying an additional 2,563 shares during the period. Swedbank AB grew its stake in shares of Datadog by 3.2% in the 3rd quarter. Swedbank AB now owns 110,712 shares of the company’s stock valued at $12,739,000 after buying an additional 3,483 shares during the period. Bleakley Financial Group LLC boosted its stake in Datadog by 10.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,427 shares of the company’s stock valued at $394,000 after purchasing an additional 311 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Datadog by 0.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,224 shares of the company’s stock valued at $4,053,000 after purchasing an additional 314 shares during the last quarter. 78.29% of the stock is owned by 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.