Datadog’s (DDOG) Neutral Rating Reiterated at Guggenheim

Guggenheim reissued their neutral rating on shares of Datadog (NASDAQ:DDOG) in a research report sent to investors on Wednesday,Benzinga reports.

A number of other brokerages have also recently weighed in on DDOG. Stifel Nicolaus raised their price target on Datadog from $141.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. DA Davidson upped their price target on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Jefferies Financial Group raised their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Scotiabank lowered their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Finally, Macquarie began coverage on Datadog in a report on Thursday, December 12th. They issued an “outperform” rating and a $200.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $158.45.

Datadog Price Performance

DDOG opened at $140.99 on Wednesday. The stock’s 50 day simple moving average is $147.06 and its 200 day simple moving average is $128.82. The stock has a market cap of $47.90 billion, a P/E ratio of 266.02, a P/E/G ratio of 16.28 and a beta of 1.14. Datadog has a 1-year low of $98.80 and a 1-year high of $170.08.

Insider Activity

In other news, Director Amit Agarwal sold 25,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total transaction of $3,486,750.00. Following the transaction, the director now directly owns 195,667 shares of the company’s stock, valued at approximately $27,289,676.49. The trade was a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Jacobson sold 3,393 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total transaction of $424,226.79. Following the sale, the director now directly owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 642,679 shares of company stock valued at $92,155,421. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its position in shares of Datadog by 172.2% during the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after acquiring an additional 24,574 shares during the last quarter. Heritage Investors Management Corp purchased a new stake in Datadog during the 3rd quarter worth approximately $1,157,000. Atom Investors LP acquired a new position in shares of Datadog in the 3rd quarter valued at approximately $1,112,000. Parnassus Investments LLC boosted its stake in shares of Datadog by 28.4% during the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after buying an additional 40,952 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after buying an additional 126,613 shares in the last quarter. Institutional investors and hedge funds 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.