Brokerages Set Datadog, Inc. (NASDAQ:DDOG) Target Price at $150.33

Shares of Datadog, Inc. (NASDAQ:DDOG - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the thirty-one ratings firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation, twenty-two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $150.33.

A number of brokerages have recently weighed in on DDOG. UBS Group lowered their price target on Datadog from $164.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada boosted their price target on shares of Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Cantor Fitzgerald started coverage on shares of Datadog in a research note on Friday, January 17th. They set an "overweight" rating and a $180.00 price objective on the stock. Stifel Nicolaus downgraded Datadog from a "buy" rating to a "hold" rating and cut their target price for the stock from $165.00 to $140.00 in a research report on Wednesday, January 29th. Finally, Citigroup dropped their price objective on Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a research note on Friday, February 14th.

Insiders Place Their Bets

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the sale, the executive now directly owns 185,871 shares in the company, valued at $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the transaction, the chief executive officer now owns 563,598 shares in the company, valued at approximately $49,219,013.34. This trade represents a 16.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 512,561 shares of company stock valued at $57,166,767 in the last three months. Insiders own 11.78% of the company's stock.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently modified their holdings of DDOG. Retirement Wealth Solutions LLC bought a new position in Datadog during the fourth quarter valued at about $30,000. Cornerstone Planning Group LLC increased its holdings in shares of Datadog by 96.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock valued at $30,000 after acquiring an additional 154 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after acquiring an additional 81 shares during the last quarter. Putney Financial Group LLC bought a new position in shares of Datadog in the 4th quarter valued at approximately $32,000. Finally, Elequin Capital LP acquired a new stake in Datadog in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Stock Down 0.1 %

Shares of NASDAQ DDOG traded down $0.15 during trading on Wednesday, reaching $102.16. 3,547,407 shares of the stock were exchanged, compared to its average volume of 4,348,213. The business's 50-day moving average price is $101.72 and its 200 day moving average price is $126.95. The company has a market capitalization of $35.02 billion, a price-to-earnings ratio of 200.32, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20. Datadog has a twelve month low of $81.63 and a twelve month high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. As a group, sell-side analysts expect that Datadog will post 0.34 earnings per share for the current fiscal year.

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.