Datadog (NASDAQ:DDOG) Price Target Lowered to $150.00 at Rosenblatt Securities

Datadog (NASDAQ:DDOG - Get Free Report) had its price target cut by equities researchers at Rosenblatt Securities from $160.00 to $150.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Rosenblatt Securities' price objective suggests a potential upside of 42.86% from the stock's previous close.

Other analysts have also issued reports about the stock. Scotiabank decreased their target price on shares of Datadog from $155.00 to $125.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, April 15th. UBS Group decreased their price objective on Datadog from $164.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC reiterated a "buy" rating and issued a $160.00 price objective on shares of Datadog in a research note on Tuesday, March 4th. Cantor Fitzgerald initiated coverage on Datadog in a research report on Friday, January 17th. They set an "overweight" rating and a $180.00 target price for the company. Finally, Stifel Nicolaus cut Datadog from a "buy" rating to a "hold" rating and lowered their price target for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.96.

Datadog Stock Down 1.2 %

Shares of DDOG opened at $105.00 on Monday. The stock's 50-day moving average price is $100.95 and its 200 day moving average price is $126.47. Datadog has a 12-month low of $81.63 and a 12-month high of $170.08. The firm has a market capitalization of $35.99 billion, a price-to-earnings ratio of 205.89, a P/E/G ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last released 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 net margin of 6.85% and a return on equity of 8.28%. Equities research analysts expect that Datadog will post 0.34 EPS for the current year.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 371,865 shares in the company, valued at $37,986,009.75. The trade was a 25.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the transaction, the chief executive officer now owns 563,598 shares in the company, valued at $49,219,013.34. This represents a 16.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 385,456 shares of company stock worth $39,018,715 over the last 90 days. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

Several institutional investors and hedge funds have recently made changes to their positions in DDOG. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Datadog by 887.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after purchasing an additional 22,646 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in Datadog during the fourth quarter worth about $30,000. Cornerstone Planning Group LLC grew its position in shares of Datadog by 96.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after buying an additional 154 shares during the period. Avior Wealth Management LLC increased its stake in shares of Datadog by 55.9% in 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. Finally, Putney Financial Group LLC acquired a new stake in shares of Datadog in the 4th quarter valued at approximately $32,000. Institutional investors 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.

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