Datadog (NASDAQ:DDOG) Given New $132.00 Price Target at BMO Capital Markets

Datadog (NASDAQ:DDOG) had its price target lowered by BMO Capital Markets from $140.00 to $132.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

DDOG has been the subject of several other research reports. Wedbush reaffirmed an outperform rating and issued a $155.00 price objective on shares of Datadog in a report on Friday. Needham & Company LLC cut their price target on Datadog from $165.00 to $140.00 and set a buy rating for the company in a research note on Friday. Wells Fargo & Company upgraded shares of Datadog from an equal weight rating to an overweight rating and increased their price objective for the stock from $130.00 to $150.00 in a research note on Tuesday, April 23rd. UBS Group raised their price objective on shares of Datadog from $120.00 to $125.00 and gave the stock a neutral rating in a report on Friday. Finally, Baird R W raised shares of Datadog from a hold rating to a strong-buy rating in a report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog currently has an average rating of Moderate Buy and a consensus price target of $138.93.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded down $1.78 during midday trading on Friday, reaching $112.28. 4,515,414 shares of the company’s stock traded hands, compared to its average volume of 4,125,572. Datadog has a one year low of $77.81 and a one year high of $138.61. The stock has a 50 day moving average of $119.38 and a 200 day moving average of $122.98. The company has a market cap of $37.56 billion, a price-to-earnings ratio of 350.88, a P/E/G ratio of 37.24 and a beta of 1.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43.

Insider Transactions at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $118.52, for a total transaction of $15,064,484.60. Following the completion of the transaction, the chief technology officer now directly owns 290,412 shares of the company’s stock, valued at $34,419,630.24. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $118.52, for a total transaction of $15,064,484.60. Following the sale, the chief technology officer now directly owns 290,412 shares of the company’s stock, valued at approximately $34,419,630.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adam Blitzer sold 11,946 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total value of $1,307,489.70. Following the transaction, the chief operating officer now owns 236,640 shares of the company’s stock, valued at $25,900,248. The disclosure for this sale can be found here. Over the last three months, insiders have sold 857,306 shares of company stock valued at $101,950,263. 11.78% of the stock is currently owned by insiders.

Institutional Trading of Datadog

Large investors have recently made changes to their positions in the business. Riverview Trust Co bought a new stake in shares of Datadog in the 1st quarter worth about $26,000. SouthState Corp bought a new stake in shares of Datadog during the 2nd quarter worth approximately $26,000. Raleigh Capital Management Inc. purchased a new position in Datadog during the 4th quarter valued at $29,000. Private Trust Co. NA grew its position in Datadog by 743.3% in the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after acquiring an additional 223 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in Datadog in the fourth quarter worth $33,000. 78.29% of the stock is currently owned by institutional investors.

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.