Datadog’s (DDOG) Equal Weight Rating Reaffirmed at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Datadog (NASDAQ:DDOG) in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The firm currently has a $143.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Loop Capital raised their price target on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. BMO Capital Markets raised their price target on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Stifel Nicolaus raised their price target on Datadog from $141.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Macquarie began coverage on Datadog in a report on Thursday, December 12th. They issued an “outperform” rating and a $200.00 price target on the stock. Finally, Sanford C. Bernstein decreased their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $156.97.

Datadog Stock Down 3.0 %

Datadog stock opened at $136.79 on Thursday. The business’s 50-day simple moving average is $145.61 and its 200 day simple moving average is $128.51. The stock has a market cap of $46.47 billion, a price-to-earnings ratio of 258.10, a P/E/G ratio of 16.31 and a beta of 1.14. Datadog has a 12-month low of $98.80 and a 12-month high of $170.08.

Insider Buying and Selling at Datadog

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was 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 of the company’s stock, valued at $10,866,514.32. This represents a 3.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 609,763 shares of company stock valued at $87,543,649 in the last ninety days. 11.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Datadog

A number of institutional investors have recently modified their holdings of DDOG. 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. Retirement Wealth Solutions LLC bought a new stake in shares of Datadog during the 4th quarter valued at $30,000. Meeder Asset Management Inc. lifted its position in shares of Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after acquiring an additional 115 shares during the period. Quarry LP bought a new stake in shares of Datadog during the 3rd quarter worth $33,000. Finally, American National Bank & Trust bought a new stake in shares of Datadog during the 3rd quarter worth $39,000. 78.29% of the stock is currently owned by institutional investors.

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.