Datadog (NASDAQ:DDOG) Price Target Raised to $160.00 at Rosenblatt Securities

Datadog (NASDAQ:DDOG) had its price target lifted by Rosenblatt Securities from $148.00 to $160.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also weighed in on DDOG. Morgan Stanley reissued an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a report on Thursday, January 16th. Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Royal Bank of Canada increased their price objective on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Robert W. Baird increased their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, DA Davidson increased their price objective on Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.39.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $131.01 on Wednesday. The business’s 50-day moving average is $145.85 and its 200 day moving average is $130.93. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08. The firm has a market capitalization of $44.51 billion, a P/E ratio of 247.19, a P/E/G ratio of 16.83 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 7.58% and a return on equity of 9.41%. On average, analysts expect that Datadog will post 0.53 EPS for the current year.

Insider Activity

In other news, General Counsel Kerry Acocella sold 2,488 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 $10,866,514.32. This trade represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 627,586 shares of company stock worth $92,540,479 over the last quarter. 11.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Datadog

A number of institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. lifted its position in Datadog by 417.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company’s stock worth $46,000 after buying an additional 259 shares in the last quarter. Bison Wealth LLC purchased a new position in Datadog during the fourth quarter worth approximately $228,000. Voleon Capital Management LP purchased a new position in Datadog during the fourth quarter worth approximately $823,000. Soros Fund Management LLC lifted its position in Datadog by 14.3% during the fourth quarter. Soros Fund Management LLC now owns 192,190 shares of the company’s stock worth $27,462,000 after buying an additional 24,100 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Datadog by 70.6% during the fourth quarter. AQR Capital Management LLC now owns 455,042 shares of the company’s stock worth $65,021,000 after buying an additional 188,287 shares in the last quarter. Hedge funds and other 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.