Rosenblatt Securities Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG) had its price objective increased by Rosenblatt Securities from $148.00 to $160.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price target indicates a potential upside of 8.07% from the stock’s previous close.

DDOG has been the subject of several other research reports. Scotiabank decreased their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Macquarie reissued an “outperform” rating and issued a $200.00 price objective on shares of Datadog in a report on Tuesday. Citigroup lifted their price objective on Datadog from $157.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Barclays lifted their price objective on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $158.52.

Datadog Stock Up 1.8 %

DDOG traded up $2.63 during trading hours on Wednesday, hitting $148.05. The stock had a trading volume of 3,256,909 shares, compared to its average volume of 4,174,512. The company’s fifty day simple moving average is $146.75 and its 200 day simple moving average is $130.77. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08. The stock has a market cap of $50.29 billion, a PE ratio of 279.34, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the sale, the chief technology officer now owns 324,778 shares in the company, valued at approximately $46,371,802.84. The trade was a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the completion of the sale, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. The trade was a 41.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 777,586 shares of company stock worth $111,444,979 in the last quarter. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

Several hedge funds and other institutional investors have recently bought and sold shares of DDOG. True Wealth Design LLC increased its stake in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the period. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog during the fourth quarter valued at approximately $30,000. Avior Wealth Management LLC increased its stake in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares during the period. Finally, Quarry LP purchased a new position in shares of Datadog during the third quarter valued at approximately $33,000. Institutional investors 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.