Citigroup Increases Datadog (NASDAQ:DDOG) Price Target to $157.00

Datadog (NASDAQ:DDOG) had its price target upped by equities research analysts at Citigroup from $150.00 to $157.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 26.12% from the company’s current price.

DDOG has been the topic of a number of other reports. Evercore ISI began coverage on Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 price target on the stock. UBS Group restated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a research note on Thursday, August 1st. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. Finally, Needham & Company LLC cut their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $148.14.

Datadog Trading Down 4.1 %

Datadog stock traded down $5.31 during mid-day trading on Friday, hitting $124.48. The company’s stock had a trading volume of 3,366,416 shares, compared to its average volume of 3,785,020. The stock’s fifty day moving average is $119.21 and its two-hundred day moving average is $119.49. The firm has a market capitalization of $41.97 billion, a PE ratio of 276.63, a price-to-earnings-growth ratio of 22.93 and a beta of 1.10. Datadog has a 1 year low of $98.80 and a 1 year high of $138.61.

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

Insider Activity

In related news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the transaction, the director now owns 451,533 shares in the company, valued at $57,195,685.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Shardul Shah sold 7,916 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total value of $1,002,719.72. Following the completion of the sale, the director now directly owns 451,533 shares of the company’s stock, valued at approximately $57,195,685.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the completion of the transaction, the executive now directly owns 183,512 shares in the company, valued at $22,939,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 444,291 shares of company stock valued at $54,154,859. Insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several hedge funds have recently made changes to their positions in DDOG. Kodai Capital Management LP acquired a new position in Datadog in the 1st quarter valued at about $116,054,000. DNB Asset Management AS increased its holdings in shares of Datadog by 1,974.5% in the second 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. Thrivent Financial for Lutherans raised its stake in shares of Datadog by 1,597.9% during the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after purchasing an additional 739,011 shares during the last quarter. Bank of Montreal Can grew its position in Datadog by 129.2% in the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after buying an additional 344,431 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Datadog by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after buying an additional 331,808 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.