Datadog (NASDAQ:DDOG) Price Target Raised to $145.00

by · The Cerbat Gem

Datadog (NASDAQ:DDOG – Free Report) had its price target raised by BMO Capital Markets from $135.00 to $145.00 in a report issued on Friday, MarketBeat reports. The firm currently has an outperform rating on the stock.

DDOG has been the subject of a number of other reports. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 price target on shares of Datadog in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 target price on shares of Datadog in a report on Monday, July 22nd. Barclays decreased their price target on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Robert W. Baird raised their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Check Out Our Latest Stock Analysis on Datadog

Datadog Stock Performance

Shares of Datadog stock opened at $124.45 on Friday. Datadog has a one year low of $98.80 and a one year high of $138.61. The business has a 50-day simple moving average of $119.67 and a 200-day simple moving average of $119.53. The company has a market cap of $41.96 billion, a PE ratio of 234.81, a P/E/G ratio of 23.44 and a beta of 1.10.

Datadog (NASDAQ:DDOG – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. Datadog’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. On average, sell-side analysts predict that Datadog will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the transaction, the director now directly owns 48,411 shares of the company’s stock, valued at $5,230,808.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the transaction, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total value of $1,002,719.72. Following the sale, the director now owns 451,533 shares of the company’s stock, valued at approximately $57,195,685.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 317,186 shares of company stock worth $39,962,314. Insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC raised its stake in shares of Datadog by 14.8% in the 3rd quarter. Intech Investment Management LLC now owns 16,084 shares of the company’s stock valued at $1,851,000 after acquiring an additional 2,069 shares during the period. Citizens Financial Group Inc. RI boosted its position in shares of Datadog by 3.5% in the third quarter. Citizens Financial Group Inc. RI now owns 8,237 shares of the company’s stock worth $948,000 after buying an additional 282 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Datadog by 15.6% in the third quarter. First Horizon Advisors Inc. now owns 940 shares of the company’s stock valued at $108,000 after buying an additional 127 shares in the last quarter. Kirtland Hills Capital Management LLC raised its holdings in shares of Datadog by 28.4% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 3,368 shares of the company’s stock valued at $388,000 after buying an additional 744 shares during the period. Finally, Jennison Associates LLC lifted its position in Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after acquiring an additional 126,613 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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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