Datadog (NASDAQ:DDOG) Reaches New 12-Month Low Following Analyst Downgrade

Datadog, Inc. (NASDAQ:DDOG)’s share price reached a new 52-week low during mid-day trading on Monday after Jefferies Financial Group lowered their price target on the stock from $170.00 to $150.00. Jefferies Financial Group currently has a buy rating on the stock. Datadog traded as low as $96.63 and last traded at $98.17, with a volume of 441769 shares changing hands. The stock had previously closed at $101.10.

Several other analysts have also recently commented on DDOG. Barclays lowered their target price on Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Datadog in a report on Tuesday, March 4th. Mizuho raised their target price on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus lowered shares of Datadog from a “buy” rating to a “hold” rating and reduced their price target for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.22.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, 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 is accessible through the SEC website. Also, CEO Olivier Pomel sold 11,195 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the completion of the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at approximately $53,103,862.98. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock valued at $75,444,584 in the last 90 days. 11.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DDOG. Vanguard Group Inc. lifted its holdings in shares of Datadog by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after buying an additional 220,527 shares during the last quarter. Baillie Gifford & Co. raised its position in Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. Jennison Associates LLC lifted its stake in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares during the last quarter. Groupama Asset Managment grew its position in Datadog by 407.6% in the fourth 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. Finally, Geode Capital Management LLC increased its stake in shares of Datadog by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after purchasing an additional 499,055 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 3.1 %

The business’s fifty day moving average price is $123.79 and its two-hundred day moving average price is $130.95. The firm has a market cap of $33.59 billion, a P/E ratio of 192.11, a P/E/G ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last posted its earnings results 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 net margin of 6.85% and a return on equity of 8.28%. Research analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.