Datadog (NASDAQ:DDOG – Get Free Report) had its price objective reduced by research analysts at Barclays from $187.00 to $180.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 38.40% from the stock’s previous close.
A number of other brokerages have also recently issued reports on DDOG. Royal Bank of Canada upped their target price on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Mizuho upped their target price on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Robert W. Baird increased their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. TD Cowen reissued a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company cut Datadog from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $152.00 to $140.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Datadog currently has an average rating of “Moderate Buy” and an average price target of $158.62.
Get Our Latest Stock Report on DDOG
Datadog Stock Down 4.3 %
Datadog (NASDAQ:DDOG – Get Free Report) 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.
Insider Transactions at Datadog
In related news, CRO Sean Michael Walters sold 4,244 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $135.00, for a total transaction of $572,940.00. Following the completion of the sale, the executive now directly owns 179,367 shares in the company, valued at $24,214,545. This represents a 2.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David M. Obstler sold 33,334 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $135.95, for a total value of $4,531,757.30. Following the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $42,709,780.10. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 627,586 shares of company stock worth $92,540,479. 11.78% of the stock is owned by company insiders.
Hedge Funds Weigh In On Datadog
A number of hedge funds have recently made changes to their positions in the stock. Allworth Financial LP raised its position in shares of Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after acquiring an additional 75 shares during the last quarter. Spire Wealth Management raised its position in shares of Datadog by 21.4% during the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after acquiring an additional 80 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares during the last quarter. Pathstone Holdings LLC grew its stake in Datadog by 0.4% during the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after purchasing an additional 91 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Datadog by 5.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock worth $265,000 after purchasing an additional 92 shares during the period. 78.29% of the stock is currently owned by 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.
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