Datadog (NASDAQ:DDOG) Research Coverage Started at Credit Suisse Group

Credit Suisse Group started coverage on shares of Datadog (NASDAQ:DDOG) in a research note issued to investors on Wednesday morning, Briefing.com Automated Import reports. The firm issued a neutral rating and a $40.00 target price on the stock. The analysts noted that the move was a valuation call.

Several other equities research analysts have also recently weighed in on the stock. Barclays started coverage on shares of Datadog in a research report on Monday, October 14th. They set an overweight rating and a $45.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of Datadog in a research report on Monday, October 14th. They set an overweight rating and a $45.00 price objective for the company. JMP Securities started coverage on shares of Datadog in a research report on Monday, October 14th. They set a market perform rating for the company. Stifel Nicolaus started coverage on shares of Datadog in a research report on Monday, October 14th. They set a buy rating and a $40.00 price objective for the company. Finally, Royal Bank of Canada started coverage on shares of Datadog in a research report on Monday, October 14th. They set a sector perform rating and a $39.00 price objective for the company. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $40.00.

Shares of NASDAQ:DDOG traded up $1.52 on Wednesday, reaching $32.81. 932,100 shares of the company’s stock were exchanged, compared to its average volume of 1,786,064. Datadog has a twelve month low of $27.55 and a twelve month high of $41.44. The company’s fifty day moving average price is $33.42.

In related news, CFO David M. Obstler purchased 15,000 shares of Datadog stock in a transaction on Monday, September 23rd. The stock was acquired at an average cost of $27.00 per share, for a total transaction of $405,000.00. Also, major shareholder Iconiq Strategic Partners Ii, purchased 525,000 shares of Datadog stock in a transaction on Monday, September 23rd. The stock was bought at an average price of $27.00 per share, with a total value of $14,175,000.00. Insiders acquired 571,280 shares of company stock valued at $15,271,460 over the last 90 days.

A number of large investors have recently bought and sold shares of the business. Segantii Capital Management Ltd acquired a new position in shares of Datadog during the third quarter valued at about $1,187,000. FNY Investment Advisers LLC acquired a new position in shares of Datadog during the third quarter valued at about $161,000. Price Wealth LLC acquired a new position in shares of Datadog during the third quarter valued at about $178,000. Pelham Capital Ltd. acquired a new position in shares of Datadog during the third quarter valued at about $2,543,000. Finally, Index Venture Associates VI Ltd acquired a new position in shares of Datadog during the third quarter valued at about $1,363,311,000. Institutional investors and hedge funds own 13.89% of the company’s stock.

About Datadog

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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Analyst Recommendations for Datadog (NASDAQ:DDOG)

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