Datadog (NASDAQ:DDOG) Given New $160.00 Price Target at Rosenblatt Securities

Datadog (NASDAQ:DDOG) had its price objective boosted by Rosenblatt Securities from $148.00 to $160.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also weighed in on the stock. 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 report on Friday, November 8th. Robert W. Baird lifted their target price on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Morgan Stanley restated an “equal weight” rating and set a $143.00 price target on shares of Datadog in a research note on Thursday, January 16th. Barclays boosted their target price on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Truist Financial lowered shares of Datadog from a “buy” rating to a “hold” rating and cut their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $158.52.

Datadog Stock Performance

DDOG stock opened at $148.09 on Wednesday. The stock has a market capitalization of $50.31 billion, a P/E ratio of 279.42, a PEG ratio of 16.83 and a beta of 1.15. The company has a 50 day moving average price of $146.75 and a two-hundred day moving average price of $130.77. Datadog has a one year low of $98.80 and a one year high of $170.08.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Amit Agarwal sold 150,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the transaction, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 777,586 shares of company stock valued at $111,444,979. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Datadog by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock worth $4,337,316,000 after purchasing an additional 220,527 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after acquiring an additional 1,484,562 shares during the period. Jennison Associates LLC boosted its holdings in shares of Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares in the last quarter. Groupama Asset Managment increased its stake in shares of Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after acquiring an additional 5,299,688 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Datadog by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock valued at $811,076,000 after acquiring an additional 499,055 shares during the period. 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.