Royal Bank of Canada Issues Positive Forecast for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its target price increased by Royal Bank of Canada from $151.00 to $170.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. Loop Capital increased their target price on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Mizuho lifted their price objective on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Thursday, November 7th. BNP Paribas assumed coverage on Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target for the company. Finally, DA Davidson boosted their price objective on Datadog from $140.00 to $150.00 and gave the company a “buy” 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.74.

Datadog Stock Performance

DDOG stock opened at $144.83 on Friday. The stock has a fifty day moving average of $142.87 and a 200-day moving average of $127.12. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The company has a market capitalization of $49.20 billion, a price-to-earnings ratio of 273.27, a PEG ratio of 20.27 and a beta of 1.11.

Insider Buying and Selling

In other Datadog news, President Amit Agarwal sold 25,000 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $147.99, for a total value of $3,699,750.00. Following the completion of the sale, the president now directly owns 195,667 shares of the company’s stock, valued at $28,956,759.33. The trade was a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the transaction, the general counsel now directly owns 68,758 shares in the company, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 747,304 shares of company stock worth $102,834,812 in the last quarter. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SouthState Corp bought a new stake in Datadog during the 2nd quarter valued at $26,000. True Wealth Design LLC raised its stake in shares of Datadog by 12,000.0% during 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. boosted its holdings in shares of Datadog by 66.5% during the third 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 period. Quarry LP bought a new stake in shares of Datadog in the third quarter worth about $33,000. Finally, American National Bank & Trust purchased a new position in Datadog during the 3rd quarter valued at about $39,000. Institutional investors own 78.29% of the company’s stock.

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.