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

Datadog (NASDAQ:DDOG) had its price objective boosted by Citigroup from $157.00 to $170.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

DDOG has been the subject of a number of other research reports. Truist Financial lowered Datadog from a “buy” rating to a “hold” rating and reduced their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 7th. Mizuho boosted their price target on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. TD Cowen reiterated a “buy” rating and set a $165.00 price target on shares of Datadog in a research report on Tuesday, November 19th. Rosenblatt Securities boosted their price target on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, BMO Capital Markets boosted their price objective on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.45.

Datadog Stock Performance

Shares of DDOG stock opened at $138.40 on Friday. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08. The stock has a fifty day moving average of $146.03 and a two-hundred day moving average of $128.60. The firm has a market capitalization of $47.02 billion, a PE ratio of 261.14, a price-to-earnings-growth ratio of 16.31 and a beta of 1.14.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the company’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 transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the completion of the transaction, the director now directly owns 427,785 shares in the company, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 617,679 shares of company stock valued at $88,668,671. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in Datadog in the 4th quarter worth about $30,000. Avior Wealth Management LLC increased its position in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the last quarter. True Wealth Design LLC increased its position in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the last quarter. Meeder Asset Management Inc. increased its position in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares during the last quarter. Finally, Quarry LP acquired a new position in Datadog in the 3rd quarter worth about $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

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.