Loop Capital Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG) had its price objective lifted by research analysts at Loop Capital from $160.00 to $200.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price target indicates a potential upside of 34.77% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets upped their price target on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Sanford C. Bernstein reduced their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Truist Financial increased their price target on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. UBS Group restated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Finally, TD Cowen reissued a “buy” rating and set a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.04.

Datadog Stock Performance

Datadog stock opened at $148.40 on Monday. Datadog has a one year low of $98.80 and a one year high of $170.08. The stock has a fifty day moving average of $139.65 and a 200 day moving average of $125.60. The stock has a market cap of $50.41 billion, a PE ratio of 280.01, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11.

Insider Activity at Datadog

In other news, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the transaction, the director now owns 459,449 shares in the company, valued at approximately $55,143,068.98. The trade was a 3.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 19,226 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $153.73, for a total value of $2,955,612.98. Following the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $58,370,204.89. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 740,588 shares of company stock valued at $101,329,606 over the last 90 days. 11.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Datadog

A number of institutional investors have recently modified their holdings of the stock. HB Wealth Management LLC increased its holdings in Datadog by 5.2% during the 2nd quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock worth $250,000 after purchasing an additional 95 shares during the period. Whittier Trust Co. increased its stake in shares of Datadog by 3.5% during the second quarter. Whittier Trust Co. now owns 53,360 shares of the company’s stock valued at $6,920,000 after buying an additional 1,799 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Datadog by 4.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 18,848 shares of the company’s stock valued at $2,444,000 after acquiring an additional 722 shares in the last quarter. Burney Co. purchased a new position in Datadog during the 2nd quarter valued at about $2,221,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of Datadog in the 2nd quarter valued at about $272,000. 78.29% of the stock is owned by hedge funds and other 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.