Datadog (NASDAQ:DDOG) Price Target Lowered to $140.00 at Truist Financial

Datadog (NASDAQ:DDOG) had its price objective reduced by equities research analysts at Truist Financial from $150.00 to $140.00 in a report released on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 6.84% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. UBS Group restated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Robert W. Baird upped their target price on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Barclays cut their target price on Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald started coverage on Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $158.28.

Datadog Price Performance

DDOG stock traded down $4.85 on Friday, reaching $131.04. The company’s stock had a trading volume of 3,834,463 shares, compared to its average volume of 4,810,756. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The company has a market capitalization of $44.52 billion, a P/E ratio of 247.05, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15. The firm has a fifty day moving average of $145.85 and a two-hundred day moving average of $130.93.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 9.41% and a net margin of 7.58%. As a group, equities analysts expect that Datadog will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the transaction, the general counsel now owns 68,758 shares in the company, valued at approximately $10,866,514.32. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 627,586 shares of company stock worth $92,540,479. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several institutional investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. raised its holdings in Datadog by 247.9% during the fourth quarter. Pinebridge Investments L.P. now owns 188,266 shares of the company’s stock valued at $26,901,000 after buying an additional 134,150 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in Datadog by 272.1% during the fourth quarter. Dark Forest Capital Management LP now owns 10,561 shares of the company’s stock valued at $1,509,000 after buying an additional 7,723 shares in the last quarter. Dilation Capital Management LP acquired a new stake in shares of Datadog in the fourth quarter valued at about $6,162,000. Manchester Global Management UK Ltd acquired a new stake in shares of Datadog in the fourth quarter valued at about $25,889,000. Finally, Harvest Investment Services LLC acquired a new stake in shares of Datadog in the fourth quarter valued at about $261,000. 78.29% of the stock is currently owned by institutional investors.

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.