Rosenblatt Securities Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG) had its target price lifted by Rosenblatt Securities from $148.00 to $160.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 target price on shares of Datadog in a report on Thursday, January 16th. TD Cowen reaffirmed a “buy” rating and set a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. Sanford C. Bernstein dropped their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, November 7th. Finally, Barclays raised their target price on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.52.

Datadog Trading Up 1.8 %

NASDAQ:DDOG opened at $148.09 on Wednesday. The company has a 50-day moving average of $146.75 and a 200-day moving average of $130.77. The firm has a market cap of $50.31 billion, a price-to-earnings ratio of 279.42, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08.

Insider Buying and Selling

In other Datadog news, President Amit Agarwal sold 150,000 shares of Datadog stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total value of $18,904,500.00. Following the transaction, the president now directly owns 214,275 shares of the company’s stock, valued at $27,005,078.25. The trade was a 41.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Sean Michael Walters sold 4,244 shares of the 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. This represents a 2.31 % 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 in the last quarter. 11.78% of the stock is currently owned by company insiders.

Institutional Trading of Datadog

Several hedge funds and other institutional investors have recently bought and sold shares of DDOG. Groupama Asset Managment raised its position in shares of Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after buying an additional 5,299,688 shares during the last quarter. Norges Bank bought a new position in Datadog during the fourth quarter valued at about $462,910,000. Jennison Associates LLC increased its stake in Datadog by 47.9% during 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 period. Baillie Gifford & Co. raised its holdings in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of Datadog in the 4th quarter worth approximately $173,163,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.