Datadog (NASDAQ:DDOG) Stock Price Expected to Rise, Mizuho Analyst Says

Datadog (NASDAQ:DDOG) had its price target upped by analysts at Mizuho from $155.00 to $170.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 11.09% from the stock’s previous close.

DDOG has been the subject of several other research reports. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Rosenblatt Securities upped their price objective on Datadog from $140.00 to $148.00 and gave the stock a “buy” 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. Citigroup upped their price target on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets lifted their price objective on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.07.

Datadog Price Performance

Shares of DDOG stock opened at $153.03 on Friday. The firm’s 50-day simple moving average is $136.72 and its 200-day simple moving average is $123.89. Datadog has a 1-year low of $98.80 and a 1-year high of $170.08. The firm has a market cap of $51.99 billion, a P/E ratio of 288.74, a PEG ratio of 20.27 and a beta of 1.11.

Insider Activity at Datadog

In related news, Director Shardul Shah sold 15,832 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.02, for a total value of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. This represents a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 713,446 shares of company stock valued at $97,145,034. Insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC grew its position in shares of Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after acquiring an additional 24,574 shares in the last quarter. Heritage Investors Management Corp bought a new position in Datadog during the third quarter worth $1,157,000. Atom Investors LP acquired a new position in Datadog in the third quarter worth $1,112,000. Jennison Associates LLC boosted its holdings in Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after purchasing an additional 126,613 shares during the period. Finally, Parnassus Investments LLC increased its stake in Datadog by 28.4% during the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after purchasing an additional 40,952 shares during the last quarter. 78.29% of the stock is owned by institutional investors.

About Datadog

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.