Datadog (NASDAQ:DDOG) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Datadog (NASDAQ:DDOG) had its price target upped by Stifel Nicolaus from $141.00 to $165.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on DDOG. Citigroup boosted their price objective on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Mizuho boosted their price target on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. BMO Capital Markets raised their price objective on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Truist Financial lifted their price objective on shares of Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Rosenblatt Securities increased their target price on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.56.

Datadog Stock Up 0.9 %

DDOG stock opened at $151.60 on Wednesday. The firm has a market cap of $51.50 billion, a price-to-earnings ratio of 286.04, a PEG ratio of 20.27 and a beta of 1.11. The company’s fifty day simple moving average is $138.56 and its 200 day simple moving average is $124.68. Datadog has a 12-month low of $98.80 and a 12-month high of $170.08.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the sale, the chief executive officer now directly owns 392,111 shares in the company, valued at $48,076,729.71. The trade was a 17.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 435,701 shares in the company, valued at $67,642,580.25. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 721,362 shares of company stock worth $98,373,993. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

Several hedge funds have recently added to or reduced their stakes in DDOG. SouthState Corp bought a new position in shares of Datadog during the 2nd quarter valued at approximately $26,000. True Wealth Design LLC lifted its stake in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares during the last quarter. Meeder Asset Management Inc. grew its holdings 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 during the period. Quarry LP purchased a new stake in Datadog in the third quarter worth $33,000. Finally, Blue Trust Inc. bought a new stake in shares of Datadog in the second quarter valued at $37,000. Institutional investors own 78.29% of the company’s stock.

Datadog Company Profile

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.