Citigroup Raises Datadog (NASDAQ:DDOG) Price Target to $157.00

Datadog (NASDAQ:DDOG) had its price objective increased by Citigroup from $150.00 to $157.00 in a research note published on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

DDOG has been the subject of several other research reports. Barclays raised their price objective on shares of Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target for the company in a research note on Thursday, August 1st. Evercore ISI started coverage on shares of Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 price target for the company. BMO Capital Markets lifted their price target on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday. Finally, UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Datadog Stock Performance

NASDAQ DDOG traded down $5.34 during trading on Friday, hitting $124.45. The stock had a trading volume of 5,904,912 shares, compared to its average volume of 3,125,492. The stock has a market capitalization of $41.96 billion, a price-to-earnings ratio of 276.56, a P/E/G ratio of 23.44 and a beta of 1.10. Datadog has a one year low of $98.80 and a one year high of $138.61. The stock has a 50 day simple moving average of $119.67 and a 200 day simple moving average of $119.58.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. On average, sell-side analysts predict that Datadog will post 0.42 EPS for the current year.

Insider Activity

In other news, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the sale, the executive now directly owns 183,512 shares of the company’s stock, valued at $22,939,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the sale, the executive now directly owns 183,512 shares of the company’s stock, valued at $22,939,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the sale, the chief technology officer now directly owns 347,684 shares in the company, valued at $38,822,395.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 444,291 shares of company stock valued at $54,154,859 over the last ninety days. 11.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Datadog

Hedge funds have recently added to or reduced their stakes in the business. Heritage Investors Management Corp purchased a new stake in Datadog in the third quarter valued at $1,157,000. Vanguard Group Inc. boosted its holdings in Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after purchasing an additional 171,693 shares during the last quarter. Bank of Montreal Can boosted its holdings in Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after purchasing an additional 344,431 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Datadog by 23.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock valued at $19,635,000 after purchasing an additional 32,217 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its holdings in Datadog by 1,648.8% in the first quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock valued at $638,000 after purchasing an additional 4,864 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other 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.