Datadog (NASDAQ:DDOG) Price Target Lowered to $130.00 at Needham & Company LLC

Datadog (NASDAQ:DDOG - Get Free Report) had its price target decreased by equities research analysts at Needham & Company LLC from $160.00 to $130.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price objective indicates a potential upside of 22.57% from the stock's current price.

Several other analysts have also issued reports on the stock. Barclays upped their price target on shares of Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a research report on Tuesday. Wolfe Research cut Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Cantor Fitzgerald started coverage on Datadog in a research note on Friday, January 17th. They issued an "overweight" rating and a $180.00 price target on the stock. Morgan Stanley dropped their price objective on Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, DA Davidson lifted their target price on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $149.18.

Datadog Trading Up 0.3 %

DDOG opened at $106.06 on Wednesday. The stock has a market capitalization of $36.35 billion, a P/E ratio of 207.96, a PEG ratio of 44.03 and a beta of 1.12. The stock has a 50-day moving average price of $100.64 and a 200-day moving average price of $126.18. Datadog has a 12-month low of $81.63 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. The business had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. Datadog's revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. On average, equities research analysts predict that Datadog will post 0.34 EPS for the current year.

Insider Buying and Selling at Datadog

In other news, Director Amit Agarwal sold 10,167 shares of Datadog stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the transaction, the director now owns 82,324 shares in the company, valued at $9,538,058.64. This trade represents a 10.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the sale, the chief technology officer now directly owns 371,865 shares of the company's stock, valued at approximately $37,986,009.75. The trade was a 25.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 385,456 shares of company stock valued at $39,018,715. 11.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Allworth Financial LP increased its holdings in Datadog by 7.7% in the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company's stock worth $146,000 after acquiring an additional 75 shares in the last quarter. Spire Wealth Management boosted its position in shares of Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company's stock worth $65,000 after purchasing an additional 80 shares during the period. Avior Wealth Management LLC increased its stake in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after purchasing an additional 81 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock worth $265,000 after purchasing an additional 92 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Datadog by 16.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock valued at $95,000 after buying an additional 94 shares in the last quarter. 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.

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