Citigroup Lowers Datadog (NASDAQ:DDOG) Price Target to $165.00

Datadog (NASDAQ:DDOG) had its price target lowered by analysts at Citigroup from $170.00 to $165.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 26.49% from the company’s current price.

A number of other equities research analysts also recently weighed in on DDOG. Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research report on Thursday, January 16th. Scotiabank dropped their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and dropped their price objective for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Mizuho raised their price objective on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.10.

Datadog Stock Performance

DDOG stock traded down $5.44 during midday trading on Friday, reaching $130.45. The company’s stock had a trading volume of 4,122,434 shares, compared to its average volume of 4,822,716. The stock has a fifty day simple moving average of $145.85 and a two-hundred day simple moving average of $130.93. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08. The firm has a market capitalization of $44.32 billion, a price-to-earnings ratio of 246.45, a PEG ratio of 16.83 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 7.58% and a return on equity of 9.41%. As a group, analysts forecast that Datadog will post 0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the transaction, the general counsel now owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Amit Agarwal sold 25,000 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $147.99, for a total value of $3,699,750.00. Following the transaction, the president now owns 195,667 shares of the company’s stock, valued at approximately $28,956,759.33. This represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 627,586 shares of company stock valued at $92,540,479. Insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of hedge funds have recently modified their holdings of the business. Coppell Advisory Solutions LLC grew its holdings in shares of Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock worth $40,000 after purchasing an additional 177 shares during the period. Pinebridge Investments L.P. boosted its holdings in Datadog by 247.9% during the 4th quarter. Pinebridge Investments L.P. now owns 188,266 shares of the company’s stock valued at $26,901,000 after acquiring an additional 134,150 shares during the period. Dark Forest Capital Management LP raised its position in Datadog by 272.1% in the 4th quarter. Dark Forest Capital Management LP now owns 10,561 shares of the company’s stock valued at $1,509,000 after purchasing an additional 7,723 shares in the last quarter. Dilation Capital Management LP acquired a new stake in Datadog in the 4th quarter valued at about $6,162,000. Finally, Manchester Global Management UK Ltd acquired a new stake in Datadog in the 4th quarter valued at about $25,889,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.