Datadog (NASDAQ:DDOG) Given New $133.00 Price Target at Scotiabank

Datadog (NASDAQ:DDOG) had its price objective lowered by investment analysts at Scotiabank from $135.00 to $133.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 6.87% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price target on shares of Datadog in a report on Monday, July 22nd. Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $135.00 to $155.00 in a research report on Tuesday, July 16th. BNP Paribas assumed coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective on the stock. Finally, UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Datadog Stock Down 4.1 %

Shares of Datadog stock opened at $124.45 on Friday. Datadog has a twelve month low of $98.80 and a twelve month high of $138.61. The business has a 50-day moving average price of $119.67 and a 200-day moving average price of $119.58. The firm has a market cap of $41.96 billion, a price-to-earnings ratio of 276.56, a PEG ratio of 23.44 and a beta of 1.10.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. During the same quarter in the previous year, the company posted $0.36 EPS. The company’s revenue was up 26.7% compared to the same quarter last year. On average, equities analysts expect that Datadog will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the transaction, the chief technology officer now owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the sale, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Kerry Acocella sold 2,452 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.06, for a total transaction of $294,387.12. Following the transaction, the general counsel now owns 74,421 shares in the company, valued at approximately $8,934,985.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 444,291 shares of company stock valued at $54,154,859 in the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of large investors have recently bought and sold shares of the business. SouthState Corp purchased a new position in shares of Datadog in the 2nd quarter valued at $26,000. Meeder Asset Management Inc. boosted its position 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 purchasing an additional 115 shares in the last quarter. Blue Trust Inc. purchased a new position in Datadog in the second quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its stake in Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after purchasing an additional 127 shares during the last quarter. Finally, American National Bank & Trust bought a new position in Datadog in the third quarter worth about $39,000. Institutional investors own 78.29% of the company’s stock.

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.