Datadog (NASDAQ:DDOG) Price Target Cut to $140.00 by Analysts at Needham & Company LLC

Datadog (NASDAQ:DDOG) had its price objective cut by Needham & Company LLC from $165.00 to $140.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on DDOG. Stifel Nicolaus restated a buy rating and issued a $152.00 price target on shares of Datadog in a research note on Monday, April 22nd. JMP Securities raised shares of Datadog to a hold rating in a research note on Wednesday, May 8th. Evercore ISI started coverage on shares of Datadog in a research note on Monday, July 15th. They set an outperform rating and a $150.00 target price on the stock. Cantor Fitzgerald reiterated an overweight rating and set a $150.00 price target on shares of Datadog in a report on Monday, July 22nd. Finally, BMO Capital Markets cut their price objective on Datadog from $155.00 to $140.00 and set an outperform rating on the stock in a report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Datadog presently has a consensus rating of Moderate Buy and an average price target of $138.93.

Datadog Stock Performance

Datadog stock traded down $1.78 during mid-day trading on Friday, hitting $112.28. 4,515,414 shares of the company’s stock traded hands, compared to its average volume of 4,125,572. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The firm has a 50 day simple moving average of $119.38 and a two-hundred day simple moving average of $122.98. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The stock 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.

Insiders Place Their Bets

In related news, Director Titilope Cole sold 2,210 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $112.34, for a total value of $248,271.40. Following the completion of the sale, the director now directly owns 6,451 shares of the company’s stock, valued at approximately $724,705.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Datadog news, Director Titilope Cole sold 2,210 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $112.34, for a total transaction of $248,271.40. Following the completion of the sale, the director now owns 6,451 shares in the company, valued at approximately $724,705.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 857,306 shares of company stock worth $101,950,263. 11.78% of the stock is currently owned by company insiders.

Institutional Trading of Datadog

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Datadog during the fourth quarter valued at about $384,986,000. Kodai Capital Management LP bought a new stake in Datadog during the first quarter worth $116,054,000. 1832 Asset Management L.P. boosted its position in Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after purchasing an additional 848,000 shares during the last quarter. DNB Asset Management AS grew its stake in Datadog by 1,974.5% in the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after purchasing an additional 806,741 shares during the period. Finally, Vanguard Group Inc. grew its position in Datadog by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after buying an additional 734,539 shares during the period. 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.