Datadog, Inc. (NASDAQ:DDOG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Datadog, Inc. (NASDAQ:DDOG) have been assigned an average rating of “Moderate Buy” from the thirty analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, twenty-six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $157.04.

A number of brokerages have recently weighed in on DDOG. Loop Capital increased their price target on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial increased their target price on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Stifel Nicolaus increased their price objective on shares of Datadog from $141.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, DA Davidson boosted their target price on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th.

Datadog Stock Up 0.6 %

Shares of NASDAQ:DDOG opened at $148.40 on Thursday. The company has a market cap of $50.41 billion, a PE ratio of 280.01, a P/E/G ratio of 20.27 and a beta of 1.11. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The firm has a 50-day simple moving average of $140.09 and a 200 day simple moving average of $125.87.

Insider Activity

In other Datadog news, Director Shardul Shah sold 15,832 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 459,449 shares in the company, valued at $55,143,068.98. This represents a 3.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Olivier Pomel sold 19,226 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $153.73, for a total transaction of $2,955,612.98. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at approximately $58,370,204.89. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 740,588 shares of company stock worth $101,329,606 over the last quarter. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. SouthState Corp bought a new stake in shares of Datadog in the 2nd quarter valued at approximately $26,000. True Wealth Design LLC lifted its stake in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after acquiring an additional 240 shares during the last quarter. Meeder Asset Management Inc. grew its position in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares in the last quarter. Quarry LP acquired a new position in shares of Datadog during the 3rd quarter worth $33,000. Finally, American National Bank & Trust bought a new position in shares of Datadog during the 3rd quarter valued at $39,000. 78.29% of the stock is owned by institutional investors and hedge funds.

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.