Datadog (NASDAQ:DDOG) Price Target Raised to $165.00 at Stifel Nicolaus

Datadog (NASDAQ:DDOG) had its target price hoisted by Stifel Nicolaus from $141.00 to $165.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Barclays raised their price objective on shares of Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Rosenblatt Securities lifted their price target on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Truist Financial upped their price objective on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, December 12th. UBS Group reissued an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Finally, Robert W. Baird boosted their target price on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.56.

Datadog Stock Performance

NASDAQ DDOG opened at $151.60 on Wednesday. The stock has a market cap of $51.50 billion, a PE ratio of 286.04, a P/E/G ratio of 20.27 and a beta of 1.11. The firm has a 50-day moving average of $138.56 and a 200-day moving average of $124.68. Datadog has a 52-week low of $98.80 and a 52-week high of $170.08.

Insider Activity at Datadog

In other news, Director Shardul Shah sold 15,832 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the transaction, the director now 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 filing with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the completion of the transaction, the chief executive officer now owns 392,111 shares of the company’s stock, valued at approximately $48,076,729.71. This trade represents a 17.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 721,362 shares of company stock valued at $98,373,993 in the last quarter. Insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SouthState Corp acquired a new position in shares of Datadog during the second quarter worth $26,000. True Wealth Design LLC raised its position in Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the period. Quarry LP bought a new stake in shares of Datadog in the 3rd quarter valued at about $33,000. Finally, Blue Trust Inc. acquired a new stake in shares of Datadog in the second quarter valued at about $37,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Company Profile

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.