Datadog (NASDAQ:DDOG) Given New $170.00 Price Target at Citigroup

Datadog (NASDAQ:DDOG) had its price objective raised by stock analysts at Citigroup from $157.00 to $170.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 22.68% from the company’s current price.

A number of other brokerages have also issued reports on DDOG. BNP Paribas initiated coverage on shares of Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective for the company. Loop Capital raised their price target on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Cantor Fitzgerald assumed coverage on Datadog in a research note on Friday. They set an “overweight” rating and a $180.00 target price on the stock. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Thursday, November 7th. Finally, Macquarie began coverage on shares of Datadog in a research report on Thursday, December 12th. They issued an “outperform” rating and a $200.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $158.45.

Datadog Stock Up 1.3 %

Shares of Datadog stock traded up $1.78 on Friday, reaching $138.57. The company’s stock had a trading volume of 1,905,650 shares, compared to its average volume of 3,277,107. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The firm’s fifty day simple moving average is $145.61 and its two-hundred day simple moving average is $128.51. The company has a market capitalization of $47.08 billion, a price-to-earnings ratio of 261.44, a P/E/G ratio of 16.31 and a beta of 1.14.

Insider Buying and Selling at Datadog

In other news, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the sale, the general counsel now directly owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 3,393 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the sale, the director now owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 609,763 shares of company stock valued at $87,543,649 over the last 90 days. 11.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in Datadog in the fourth quarter worth $30,000. True Wealth Design LLC lifted its position in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares during the period. Quarry LP bought a new stake in shares of Datadog during the 3rd quarter valued at about $33,000. Finally, Kieckhefer Group LLC acquired a new position in Datadog in the fourth quarter valued at approximately $43,000. 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.