Datadog (NASDAQ:DDOG) Stock Price Expected to Rise, DA Davidson Analyst Says

Datadog (NASDAQ:DDOG) had its price target lifted by DA Davidson from $150.00 to $165.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 13.46% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Barclays lifted their price target on shares of Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Macquarie started coverage on shares of Datadog in a research note on Thursday, December 12th. They set an “outperform” rating and a $200.00 price target on the stock. Loop Capital boosted their target price on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and dropped their target price for the stock from $165.00 to $140.00 in a research report on Wednesday, January 29th. Finally, Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Datadog has an average rating of “Moderate Buy” and an average target price of $158.10.

Datadog Price Performance

Datadog stock opened at $145.42 on Monday. Datadog has a 12-month low of $98.80 and a 12-month high of $170.08. The company has a market capitalization of $49.40 billion, a price-to-earnings ratio of 274.38, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15. The firm’s fifty day moving average price is $146.95 and its 200 day moving average price is $130.58.

Insider Activity

In other Datadog news, CRO Sean Michael Walters sold 4,244 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $135.00, for a total value of $572,940.00. Following the completion of the sale, the executive now directly owns 179,367 shares of the company’s stock, valued at $24,214,545. The trade was a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the sale, the director now directly owns 435,701 shares of the company’s stock, valued at approximately $67,642,580.25. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 777,586 shares of company stock worth $111,444,979 over the last 90 days. 11.78% of the stock is owned by company insiders.

Institutional Trading of Datadog

Several large investors have recently modified their holdings of the company. Jennison Associates LLC raised its stake in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Baillie Gifford & Co. raised its stake in Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Datadog during the 4th quarter valued at $173,163,000. Holocene Advisors LP raised its stake in Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares during the last quarter. Finally, Champlain Investment Partners LLC acquired a new position in Datadog during the 3rd quarter valued at $52,561,000. 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.