Datadog (NASDAQ:DDOG) Price Target Cut to $120.00 by Analysts at Truist Financial

Datadog (NASDAQ:DDOG) had its target price lowered by stock analysts at Truist Financial from $140.00 to $120.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential upside of 18.69% from the company’s previous close.

Other analysts also recently issued reports about the stock. Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $152.00 to $140.00 in a report on Thursday, February 13th. Rosenblatt Securities boosted their price target on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada raised their price objective on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Cantor Fitzgerald started coverage on Datadog in a report on Friday, January 17th. They set an “overweight” rating and a $180.00 target price on the stock. Finally, Macquarie reissued an “outperform” rating and set a $200.00 price target on shares of Datadog in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.96.

Datadog Trading Down 3.6 %

Shares of NASDAQ DDOG opened at $101.10 on Monday. The company has a fifty day moving average price of $123.79 and a 200 day moving average price of $130.95. Datadog has a 1-year low of $98.30 and a 1-year high of $170.08. The firm has a market cap of $34.65 billion, a PE ratio of 198.24, a PEG ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Equities research analysts forecast that Datadog will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the transaction, the executive now owns 185,871 shares in the company, valued at $18,966,276.84. This trade represents a 4.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total value of $1,125,021.92. Following the sale, the director now owns 427,785 shares of the company’s stock, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock worth $75,444,584 in the last quarter. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Groupama Asset Managment boosted its position in shares of Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after acquiring an additional 5,299,688 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Datadog by 17,477.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock valued at $573,923,000 after purchasing an additional 3,993,707 shares in the last quarter. Norges Bank bought a new position in shares of Datadog in the 4th quarter valued at $462,910,000. Jennison Associates LLC raised its holdings in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after buying an additional 3,005,300 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock worth $392,830,000 after buying an additional 2,654,512 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Company Profile

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.