Scotiabank Issues Pessimistic Forecast for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its target price cut by Scotiabank from $155.00 to $125.00 in a research report released on Tuesday,Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley restated an “equal weight” rating and issued a $143.00 target price on shares of Datadog in a research note on Thursday, January 16th. Truist Financial decreased their target price on Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Jefferies Financial Group reissued a “buy” rating and set a $135.00 price target (down from $150.00) on shares of Datadog in a research report on Monday, April 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Datadog in a report on Tuesday, March 4th. Finally, Citigroup dropped their target price on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $152.37.

Datadog Stock Performance

Shares of NASDAQ DDOG opened at $91.06 on Tuesday. Datadog has a 1 year low of $81.63 and a 1 year high of $170.08. The stock’s 50-day simple moving average is $107.84 and its 200-day simple moving average is $128.35. The firm has a market cap of $31.21 billion, a price-to-earnings ratio of 178.54, a PEG ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. As a group, research analysts predict that Datadog will post 0.34 EPS for the current year.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the sale, the chief executive officer now directly owns 563,598 shares in the company, valued at approximately $49,219,013.34. The trade was a 16.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the transaction, the executive now directly owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 548,756 shares of company stock worth $62,219,250. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several large investors have recently added to or reduced their stakes in DDOG. Retirement Wealth Solutions LLC bought a new position in Datadog in the 4th quarter valued at $30,000. Avior Wealth Management LLC lifted its position in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares in the last quarter. Putney Financial Group LLC acquired a new stake in Datadog in the 4th quarter valued at about $32,000. Elequin Capital LP bought a new position in shares of Datadog in the fourth quarter worth about $34,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Datadog during the first quarter valued at approximately $37,000. 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.