Datadog (NASDAQ:DDOG) Given New $157.00 Price Target at Citigroup

Datadog (NASDAQ:DDOG) had its price objective boosted by Citigroup from $150.00 to $157.00 in a research note issued to investors on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price target on shares of Datadog in a research report on Monday, July 22nd. BMO Capital Markets upped their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Robert W. Baird upped their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Scotiabank cut their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Stock Down 4.1 %

NASDAQ:DDOG traded down $5.34 during trading hours on Friday, hitting $124.45. 5,904,912 shares of the company’s stock traded hands, compared to its average volume of 3,125,492. The firm has a market cap of $41.96 billion, a P/E ratio of 276.56, a P/E/G ratio of 23.44 and a beta of 1.10. Datadog has a 52 week low of $98.80 and a 52 week high of $138.61. The business’s fifty day simple moving average is $119.67 and its two-hundred day simple moving average is $119.58.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. On average, analysts expect that Datadog will post 0.42 EPS for the current year.

Insider Buying and Selling at Datadog

In other Datadog news, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Datadog news, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Obstler sold 33,333 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $130.39, for a total value of $4,346,289.87. Following the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $40,963,061.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 444,291 shares of company stock valued at $54,154,859 over the last ninety days. 11.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. SouthState Corp purchased a new position in Datadog in the second quarter worth about $26,000. Meeder Asset Management Inc. grew its position in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares in the last quarter. Blue Trust Inc. purchased a new position in Datadog in the second quarter worth about $37,000. EverSource Wealth Advisors LLC grew its position in Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after acquiring an additional 127 shares in the last quarter. Finally, American National Bank & Trust purchased a new position in Datadog in 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.