Datadog (NASDAQ:DDOG) Given New $165.00 Price Target at TD Cowen

Datadog (NASDAQ:DDOG) had its price target upped by TD Cowen from $160.00 to $165.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 32.18% from the stock’s current price.

DDOG has been the topic of several other reports. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. DA Davidson raised their price target on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets increased their price objective on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday. Finally, Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.36.

Datadog Stock Down 3.8 %

Shares of NASDAQ:DDOG traded down $4.96 during midday trading on Friday, reaching $124.83. 2,919,426 shares of the company were exchanged, compared to its average volume of 3,782,960. The firm has a market cap of $42.09 billion, a PE ratio of 277.23, a P/E/G ratio of 22.93 and a beta of 1.10. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $138.61. The stock has a fifty day simple moving average of $119.21 and a two-hundred day simple moving average of $119.49.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.01% and a net margin of 6.81%. Datadog’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. As a group, analysts forecast that Datadog will post 0.42 earnings per share for the current year.

Insiders Place Their Bets

In other Datadog news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total value of $1,002,719.72. Following the completion of the transaction, the director now owns 451,533 shares in the company, valued at $57,195,685.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Datadog news, Director Shardul Shah sold 7,916 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total value of $1,002,719.72. Following the sale, the director now directly owns 451,533 shares in the company, valued at $57,195,685.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 transaction, the chief technology officer now owns 347,684 shares of the company’s stock, 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 a total of 444,291 shares of company stock worth $54,154,859 over the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Large investors have recently modified their holdings of the business. SouthState Corp purchased a new stake in shares of Datadog during the second quarter worth about $26,000. Meeder Asset Management Inc. lifted its holdings in Datadog by 66.5% in 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. Blue Trust Inc. bought a new stake in shares of Datadog in the 2nd quarter worth approximately $37,000. EverSource Wealth Advisors LLC increased its stake in shares of Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after buying an additional 127 shares during the period. Finally, American National Bank & Trust bought a new position in shares of Datadog during the third quarter valued at approximately $39,000. Institutional investors own 78.29% of the company’s stock.

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.