Wells Fargo & Company Cuts Datadog (NASDAQ:DDOG) Price Target to $115.00

Datadog (NASDAQ:DDOG - Get Free Report) had its target price lowered by research analysts at Wells Fargo & Company from $140.00 to $115.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 7.16% from the stock's current price.

A number of other research analysts also recently commented on the company. JMP Securities reissued a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Rosenblatt Securities reduced their target price on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research note on Monday. DA Davidson lifted their price target on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday. Needham & Company LLC decreased their price objective on shares of Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Cantor Fitzgerald started coverage on shares of Datadog in a research report on Friday, January 17th. They issued an "overweight" rating and a $180.00 target price for the company. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Datadog currently has an average rating of "Moderate Buy" and a consensus price target of $148.46.

Datadog Price Performance

NASDAQ DDOG traded up $1.25 on Wednesday, reaching $107.31. The company had a trading volume of 795,370 shares, compared to its average volume of 4,398,719. Datadog has a 1 year low of $81.63 and a 1 year high of $170.08. The firm has a 50-day moving average of $100.64 and a 200-day moving average of $126.18. The firm has a market capitalization of $36.78 billion, a PE ratio of 210.65, 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 results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same period last year, the business earned $0.44 EPS. The business's revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts expect that Datadog will post 0.34 EPS for the current fiscal year.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated 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 in the company, valued at approximately $37,986,009.75. The trade was a 25.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the sale, the executive now owns 185,871 shares of the company's stock, valued at $18,966,276.84. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 385,456 shares of company stock worth $39,018,715. 11.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Datadog

A number of large investors have recently modified their holdings of DDOG. Baillie Gifford & Co. boosted its position in shares of Datadog by 12.6% in the 1st quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company's stock worth $1,217,769,000 after purchasing an additional 1,369,522 shares during the last quarter. Glynn Capital Management LLC increased its position in shares of Datadog by 24.8% during the 1st quarter. Glynn Capital Management LLC now owns 189,499 shares of the company's stock worth $18,800,000 after purchasing an additional 37,662 shares during the last quarter. Caliber Wealth Management LLC KS bought a new stake in Datadog in the first quarter valued at approximately $413,000. Pacer Advisors Inc. boosted its holdings in shares of Datadog by 43.6% during the 1st quarter. Pacer Advisors Inc. now owns 98,530 shares of the company's stock worth $9,775,000 after buying an additional 29,935 shares during the period. Finally, Assetmark Inc. increased its position in Datadog by 55.3% during the first quarter. Assetmark Inc. now owns 170,461 shares of the company's stock worth $16,911,000 after acquiring an additional 60,687 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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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