Datadog, Inc. (NASDAQ:DDOG) Receives $158.45 Consensus Target Price from Analysts

Shares of Datadog, Inc. (NASDAQ:DDOG) have been given an average recommendation of “Moderate Buy” by the thirty-three ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $158.45.

A number of research firms recently weighed in on DDOG. Citigroup boosted their target price on Datadog from $157.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Loop Capital raised their target price on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Macquarie assumed coverage on shares of Datadog in a research note on Thursday, December 12th. They issued an “outperform” rating and a $200.00 price target on the stock. UBS Group restated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Finally, DA Davidson upped their target price on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th.

Datadog Stock Performance

Datadog stock opened at $140.99 on Monday. The stock has a 50-day simple moving average of $147.36 and a 200 day simple moving average of $128.89. The stock has a market capitalization of $47.90 billion, a P/E ratio of 266.02, a PEG ratio of 16.28 and a beta of 1.14. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08.

Insider Buying and Selling

In other news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the completion of the transaction, the director now owns 427,785 shares of the company’s stock, valued at $60,796,804.20. This represents a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the transaction, the president now owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 642,679 shares of company stock worth $92,155,421 in the last three months. 11.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDOG. Jennison Associates LLC grew its stake in shares of Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Holocene Advisors LP lifted its holdings in Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after buying an additional 1,097,815 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Datadog by 1,597.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after buying an additional 739,011 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Datadog in the third quarter valued at about $52,561,000. Finally, Eagle Asset Management Inc. raised its position in shares of Datadog by 72.4% during the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock worth $113,844,000 after acquiring an additional 384,121 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.