Datadog (NASDAQ:DDOG) Given New $170.00 Price Target at Citigroup

Datadog (NASDAQ:DDOG) had its target price raised by Citigroup from $157.00 to $170.00 in a research report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on DDOG. Scotiabank decreased their price target on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Sanford C. Bernstein decreased their price target on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Morgan Stanley restated an “equal weight” rating and set a $143.00 price target on shares of Datadog in a report on Thursday. BMO Capital Markets upped their price target on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, BNP Paribas initiated coverage on shares of Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. One 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.45.

Datadog Price Performance

DDOG stock opened at $138.40 on Friday. Datadog has a 52-week low of $98.80 and a 52-week high of $170.08. The company has a 50-day moving average of $145.75 and a two-hundred day moving average of $128.57. The stock has a market capitalization of $47.02 billion, a price-to-earnings ratio of 261.14, a price-to-earnings-growth ratio of 16.31 and a beta of 1.14.

Insider Transactions at Datadog

In other news, General Counsel Kerry Acocella sold 2,488 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the sale, the general counsel now owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. This trade represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 617,679 shares of company stock valued at $88,668,671. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several hedge funds have recently modified their holdings of the stock. Avior Wealth Management LLC grew its stake in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the last quarter. Pathstone Holdings LLC grew its stake in shares of Datadog by 0.4% during the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after purchasing an additional 91 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Datadog by 19.5% during the third quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after purchasing an additional 92 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares during the last quarter. Finally, Hudock Inc. grew its stake in shares of Datadog by 3.3% during the third quarter. Hudock Inc. now owns 3,596 shares of the company’s stock valued at $414,000 after purchasing an additional 116 shares during the last quarter. 78.29% of the stock is 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.