Datadog (NASDAQ:DDOG) Price Target Raised to $170.00

Datadog (NASDAQ:DDOG) had its price target raised by Royal Bank of Canada from $151.00 to $170.00 in a research note published on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research firms also recently commented on DDOG. DA Davidson raised their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Macquarie assumed coverage on Datadog in a report on Thursday, December 12th. They issued an “outperform” rating and a $200.00 price target for the company. TD Cowen reiterated a “buy” rating and set a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. BNP Paribas initiated coverage on Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. Finally, Citigroup upped their price target on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $157.74.

Datadog Stock Up 0.8 %

Shares of NASDAQ:DDOG opened at $144.83 on Friday. The firm has a market capitalization of $49.20 billion, a PE ratio of 273.27, a P/E/G ratio of 20.27 and a beta of 1.14. The company has a 50-day moving average price of $143.24 and a two-hundred day moving average price of $127.46. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David M. Obstler sold 33,333 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.70, for a total value of $4,189,958.10. Following the transaction, the chief financial officer now owns 314,158 shares in the company, valued at approximately $39,489,660.60. The trade was a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 661,667 shares of company stock worth $92,334,860 over the last ninety days. Insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

A number of institutional investors have recently made changes to their positions in DDOG. Holocene Advisors LP increased its stake in shares of Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after buying an additional 1,097,815 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Datadog by 1,597.9% in the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after acquiring an additional 739,011 shares during the period. Champlain Investment Partners LLC bought a new position in shares of Datadog during the third quarter valued at about $52,561,000. Eagle Asset Management Inc. raised its stake in shares of Datadog by 72.4% during the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after acquiring an additional 384,121 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after purchasing an additional 344,431 shares during the period. 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.