DA Davidson Lowers Datadog (NASDAQ:DDOG) Price Target to $115.00

Datadog (NASDAQ:DDOG) had its price target dropped by investment analysts at DA Davidson from $165.00 to $115.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 24.95% from the stock’s current price.

Several other equities research analysts have also recently issued reports on DDOG. Royal Bank of Canada lifted their target price on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Loop Capital increased their target price on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. Jefferies Financial Group reissued a “buy” rating and issued a $135.00 price objective (down from $150.00) on shares of Datadog in a research note on Monday, April 7th. Finally, Barclays dropped their target price on Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.81.

Datadog Stock Performance

Shares of DDOG traded up $0.02 during mid-day trading on Monday, reaching $92.04. The stock had a trading volume of 4,014,724 shares, compared to its average volume of 4,321,943. The business has a fifty day moving average of $112.08 and a 200 day moving average of $129.18. The firm has a market cap of $31.55 billion, a price-to-earnings ratio of 180.47, a PEG ratio of 44.03 and a beta of 1.20. Datadog has a 12 month low of $81.63 and a 12 month high of $170.08.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, research analysts forecast that Datadog will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 11,195 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $139.86, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at $46,371,802.84. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 556,672 shares of company stock worth $63,344,272. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several hedge funds and other institutional investors have recently modified their holdings of the business. Groupama Asset Managment raised its holdings in Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after acquiring an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Datadog by 17,477.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock valued at $573,923,000 after buying an additional 3,993,707 shares during the period. Norges Bank purchased a new stake in shares of Datadog during the 4th quarter valued at approximately $462,910,000. Jennison Associates LLC lifted its holdings in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in Datadog by 2,804.2% in the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock worth $392,830,000 after acquiring an additional 2,654,512 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.