Cantor Fitzgerald Begins Coverage on Datadog (NASDAQ:DDOG)

Investment analysts at Cantor Fitzgerald assumed coverage on shares of Datadog (NASDAQ:DDOG) in a report released on Friday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $180.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 31.59% from the company’s previous close.

DDOG has been the topic of several other research reports. Barclays upped their price objective on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Sanford C. Bernstein dropped their price target on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Loop Capital upped their price objective on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Robert W. Baird raised their target price on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, DA Davidson lifted their price target on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average target price of $158.00.

Datadog Stock Performance

NASDAQ DDOG opened at $136.79 on Friday. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The firm has a market capitalization of $46.47 billion, a P/E ratio of 258.10, a PEG ratio of 16.31 and a beta of 1.14. The stock has a 50-day simple moving average of $145.61 and a two-hundred day simple moving average of $128.51.

Insider Buying and Selling at Datadog

In other Datadog news, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the transaction, the president now owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This trade represents a 41.18 % 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, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the sale, the director now directly owns 435,701 shares of the company’s stock, valued at approximately $67,642,580.25. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 609,763 shares of company stock worth $87,543,649 over the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position 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 worth $28,000 after acquiring an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in Datadog during the 4th quarter worth $30,000. Meeder Asset Management Inc. increased its stake in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares during the period. Quarry LP purchased a new stake in shares of Datadog in the third quarter valued at about $33,000. Finally, American National Bank & Trust acquired a new stake in shares of Datadog during the third quarter worth about $39,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.