Sanford C. Bernstein Trims Datadog (NASDAQ:DDOG) Target Price to $151.00

Datadog (NASDAQ:DDOG) had its target price cut by Sanford C. Bernstein from $157.00 to $151.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the stock.

DDOG has been the topic of a number of other reports. Loop Capital reissued a “buy” rating and issued a $160.00 price target on shares of Datadog in a research note on Friday, July 5th. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $135.00 to $155.00 in a report on Tuesday, July 16th. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada reissued an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Datadog currently has an average rating of “Moderate Buy” and a consensus target price of $142.43.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $123.89 on Monday. The company has a 50-day simple moving average of $117.21 and a 200-day simple moving average of $119.46. The company has a market cap of $41.44 billion, a PE ratio of 386.00, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. Datadog has a 12 month low of $77.81 and a 12 month high of $138.61.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. During the same period in the previous year, the company earned $0.36 EPS. Datadog’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, analysts anticipate that Datadog will post 0.42 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the sale, the chief executive officer now owns 405,314 shares in the company, valued at approximately $42,237,771.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, August 12th. The stock was 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 directly owns 347,684 shares in the company, valued at $38,822,395.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 529,928 shares of company stock worth $63,079,091 in the last three months. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Datadog by 8.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,746 shares of the company’s stock valued at $1,352,000 after acquiring an additional 886 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Datadog by 23.1% during 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. Mediolanum International Funds Ltd raised its holdings in shares of Datadog by 51.6% during the third quarter. Mediolanum International Funds Ltd now owns 68,884 shares of the company’s stock worth $7,854,000 after purchasing an additional 23,447 shares during the period. Hudock Inc. lifted its position in shares of Datadog by 3.3% in the 3rd quarter. Hudock Inc. now owns 3,596 shares of the company’s stock worth $414,000 after buying an additional 116 shares during the last quarter. Finally, Ballentine Partners LLC boosted its holdings in shares of Datadog by 96.5% in the 3rd quarter. Ballentine Partners LLC now owns 4,085 shares of the company’s stock valued at $470,000 after buying an additional 2,006 shares during the period. 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.