Datadog’s (NASDAQ:DDOG) quiet period is set to end on Tuesday, October 29th. Datadog had issued 24,000,000 shares in its initial public offering on September 19th. The total size of the offering was $648,000,000 based on an initial share price of $27.00. During Datadog’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
A number of equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Datadog in a report on Monday, October 14th. They issued a “hold” rating and a $34.00 price objective for the company. Raymond James assumed coverage on Datadog in a report on Monday, October 14th. They issued a “market perform” rating for the company. William Blair began coverage on Datadog in a report on Monday, October 14th. They issued an “outperform” rating for the company. Morgan Stanley began coverage on Datadog in a report on Monday, October 14th. They set an “equal weight” rating and a $39.00 target price for the company. Finally, Needham & Company LLC began coverage on Datadog in a report on Monday, October 14th. They set a “buy” rating and a $45.00 target price for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Datadog currently has a consensus rating of “Hold” and a consensus price target of $40.00.
Shares of DDOG stock opened at $28.76 on Thursday. Datadog has a 1-year low of $27.55 and a 1-year high of $41.44.
In related news, CFO David M. Obstler bought 15,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average cost of $27.00 per share, for a total transaction of $405,000.00. Also, insider Amit Agarwal bought 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average price of $27.00 per share, with a total value of $675,000.00. Insiders have purchased a total of 571,280 shares of company stock valued at $15,271,460 over the last 90 days.
Datadog Company Profile
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.
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