Datadog (NASDAQ:DDOG) Stock Gets Price Target Cut from BTIG Research

Datadog (NASDAQ:DDOG – Free Report) had its price target decreased by BTIG Research from $289.00 to $260.00 in a research report released on Wednesday, Marketbeat reports. BTIG Research currently has a buy rating on the stock.

DDOG has been the subject of a number of other reports. Evercore reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Datadog in a research note on Monday, November 2nd. Yorkville Ives started coverage on shares of Datadog in a research report on Monday, October 5th. They set an “outperform” rating and a $335.00 target price on the stock. Citigroup boosted their price target on shares of Datadog from $300.00 to $305.00 and gave the company a “buy” rating in a report on Friday, August 7th. Oppenheimer boosted their price target on shares of Datadog from $300.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, October 26th. Finally, Wells Fargo & Company upped their price target on shares of Datadog from $295.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.43.

Check Out Our Latest Analysis on Datadog

Datadog Stock Up 2.5%

NASDAQ DDOG traded up $4.44 on Wednesday, reaching $179.04. 5,937,232 shares of the stock traded hands, compared to its average volume of 3,026,833. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.20 and a current ratio of 3.20. The company has a fifty day moving average price of $247.75 and a 200-day moving average price of $200.01. The company has a market cap of $64.29 billion, a price-to-earnings ratio of 252.17, a PEG ratio of 21.09 and a beta of 1.50. Datadog has a 12 month low of $98.01 and a 12 month high of $300.68.

Datadog (NASDAQ:DDOG – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.17. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Datadog had a return on equity of 5.67% and a net margin of 4.48%. The business’s revenue was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 EPS. As a group, research analysts forecast that Datadog will post 0.70 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, insider Yanbing Li sold 12,700 shares of Datadog stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $221.26, for a total value of $2,810,002.00. Following the transaction, the insider owned 250,446 shares of the company’s stock, valued at $55,413,681.96. The trade was a 4.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Kerry Acocella sold 5,280 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $228.85, for a total transaction of $1,208,328.00. Following the transaction, the general counsel owned 115,243 shares of the company’s stock, valued at approximately $26,373,360.55. This trade represents a 4.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 745,293 shares of company stock valued at $175,536,548. 6.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Datadog

Several institutional investors have recently bought and sold shares of the company. Shah Wealth Advisors LLC acquired a new position in shares of Datadog during the third quarter worth $214,000. Diversified Trust Co lifted its holdings in shares of Datadog by 6.4% during the 3rd quarter. Diversified Trust Co now owns 5,963 shares of the company’s stock valued at $1,633,000 after purchasing an additional 358 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Datadog by 5.0% during the 3rd quarter. Allworth Financial LP now owns 4,979 shares of the company’s stock valued at $1,296,000 after purchasing an additional 237 shares during the last quarter. Private Advisory Group LLC boosted its position in shares of Datadog by 47.2% in the 3rd quarter. Private Advisory Group LLC now owns 6,239 shares of the company’s stock worth $1,709,000 after purchasing an additional 2,000 shares in the last quarter. Finally, R Squared Ltd boosted its position in shares of Datadog by 14.2% in the 3rd quarter. R Squared Ltd now owns 1,457 shares of the company’s stock worth $399,000 after purchasing an additional 181 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Key Datadog News

Here are the key news stories impacting Datadog this week:

Datadog Company Profile

(Get Free Report)

Datadog, Inc provides a cloud-based monitoring and security platform that helps organizations observe and manage their technology environments. Its tools collect and analyze data from applications, infrastructure, networks, and other systems to help teams detect issues and improve performance.

The company’s products include infrastructure monitoring, application performance monitoring, log management, digital experience monitoring, database and network monitoring, and security tools. Datadog also offers capabilities for incident management and cloud security.

Founded in 2010 by Olivier Pomel and Alexis Lê-Quôc, Datadog serves customers around the world.

Further Reading

Analyst Recommendations for Datadog (NASDAQ:DDOG)

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