TD Cowen Reiterates Buy Rating for Datadog (NASDAQ:DDOG)

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating reaffirmed by research analysts at TD Cowen in a report released on Tuesday,Benzinga reports. They currently have a $165.00 price objective on the stock. TD Cowen’s target price would suggest a potential upside of 27.90% from the stock’s previous close.

A number of other brokerages also recently weighed in on DDOG. 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 report on Thursday, August 1st. UBS Group restated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. BNP Paribas began coverage on Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. Needham & Company LLC dropped their price objective on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Datadog Stock Up 2.4 %

Shares of DDOG traded up $3.04 during trading hours on Tuesday, hitting $129.01. 950,534 shares of the company were exchanged, compared to its average volume of 3,836,466. The company has a market cap of $43.83 billion, a price-to-earnings ratio of 243.42, a P/E/G ratio of 18.85 and a beta of 1.10. The firm’s fifty day moving average is $121.59 and its 200 day moving average is $119.44. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $138.61.

Insiders Place Their Bets

In other Datadog news, Director Shardul Shah sold 15,832 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the completion of the sale, the director now directly owns 459,449 shares in the company, valued at approximately $55,143,068.98. This trade represents a 3.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew Jacobson sold 3,393 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the transaction, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. This represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 320,579 shares of company stock worth $40,386,541. 11.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Datadog

Large investors have recently added to or reduced their stakes in the business. SouthState Corp bought a new position in shares of Datadog during the 2nd quarter worth approximately $26,000. True Wealth Design LLC lifted its position in shares of Datadog by 12,000.0% during the 3rd 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 period. Meeder Asset Management Inc. boosted its stake in 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 acquiring an additional 115 shares in the last quarter. Quarry LP acquired a new stake in Datadog in the third quarter worth $33,000. Finally, Blue Trust Inc. bought a new stake in Datadog in the second quarter valued at $37,000. Institutional investors and hedge funds 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.