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

Datadog (NASDAQ:DDOG) had its price target cut by Scotiabank from $135.00 to $133.00 in a report published on Friday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

Several other research firms have also issued reports on DDOG. BNP Paribas assumed coverage on Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective for the company. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research report on Thursday, August 1st. BMO Capital Markets increased their price target on shares of Datadog from $132.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Evercore ISI initiated coverage on shares of Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective for the company. Finally, Sanford C. Bernstein lowered their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Datadog Stock Performance

DDOG stock traded down $5.34 during midday trading on Friday, reaching $124.45. 5,904,912 shares of the company’s stock traded hands, compared to its average volume of 3,125,492. Datadog has a 52 week low of $98.80 and a 52 week high of $138.61. The company has a 50-day moving average price of $119.67 and a two-hundred day moving average price of $119.58. The firm has a market capitalization of $41.96 billion, a PE ratio of 276.56, a price-to-earnings-growth ratio of 23.44 and a beta of 1.10.

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

Insider Buying and Selling at Datadog

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

Hedge Funds Weigh In On Datadog

A number of institutional investors have recently modified their holdings of the stock. SouthState Corp purchased a new position in shares of Datadog in the second quarter worth $26,000. Meeder Asset Management Inc. lifted its stake in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after acquiring an additional 115 shares during the period. Blue Trust Inc. purchased a new stake in shares of Datadog in the 2nd quarter valued at $37,000. EverSource Wealth Advisors LLC increased its stake in shares of Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after acquiring an additional 127 shares during the period. Finally, American National Bank & Trust purchased a new position in shares of Datadog during the third quarter worth $39,000. 78.29% of the stock is owned by hedge funds and other 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.