Datadog (NASDAQ:DDOG) Given Buy Rating at TD Cowen

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating reiterated by research analysts at TD Cowen in a research report issued on Tuesday,Benzinga reports. They currently have a $165.00 price target on the stock. TD Cowen’s price target indicates a potential upside of 27.90% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 price target on shares of Datadog in a report on Friday, August 9th. Rosenblatt Securities increased their target price on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets lifted their price target on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC lowered their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Robert W. Baird boosted their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Stock Up 2.4 %

Shares of DDOG traded up $3.04 during trading hours on Tuesday, reaching $129.01. The stock had a trading volume of 950,534 shares, compared to its average volume of 3,836,466. The company has a market cap of $43.83 billion, a P/E ratio of 243.42, a P/E/G ratio of 18.85 and a beta of 1.10. Datadog has a 52 week low of $98.80 and a 52 week high of $138.61. The firm has a 50-day moving average of $121.59 and a 200 day moving average of $119.44.

Insider Buying and Selling at Datadog

In related news, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the transaction, the director now owns 48,411 shares in the company, valued at approximately $5,230,808.55. This represents a 16.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the sale, the chief technology officer now owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This trade represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 320,579 shares of company stock worth $40,386,541 over the last 90 days. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of large investors have recently made changes to their positions in the company. Holocene Advisors LP grew its holdings in Datadog by 205.2% in the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after buying an additional 1,097,815 shares in the last quarter. Kodai Capital Management LP bought a new stake in shares of Datadog in the first quarter valued at about $116,054,000. DNB Asset Management AS grew its stake in shares of Datadog by 1,974.5% in the second quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after acquiring an additional 806,741 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Datadog by 1,597.9% during the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after acquiring an additional 739,011 shares during the period. Finally, Champlain Investment Partners LLC acquired a new stake in Datadog in the 3rd quarter worth about $52,561,000. Institutional investors own 78.29% of the company’s stock.

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.