Citigroup Cuts Datadog (NASDAQ:DDOG) Price Target to $165.00

Datadog (NASDAQ:DDOG) had its price target decreased by Citigroup from $170.00 to $165.00 in a report issued on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Loop Capital lifted their price objective on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Rosenblatt Securities lifted their price objective on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday. Sanford C. Bernstein cut their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Datadog in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.39.

Datadog Stock Performance

NASDAQ DDOG opened at $131.01 on Friday. The company has a market capitalization of $44.51 billion, a price-to-earnings ratio of 247.19, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15. The company’s 50-day simple moving average is $145.85 and its two-hundred day simple moving average is $130.93. Datadog has a one year low of $98.80 and a one year high of $170.08.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 7.58% and a return on equity of 9.41%. Equities analysts expect that Datadog will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. The trade was a 28.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Sean Michael Walters sold 4,244 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $135.00, for a total transaction of $572,940.00. Following the sale, the executive now directly owns 179,367 shares of the company’s stock, valued at $24,214,545. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 627,586 shares of company stock valued at $92,540,479. 11.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Datadog

A number of large investors have recently modified their holdings of DDOG. Inspire Investing LLC boosted its position in shares of Datadog by 22.0% during the 3rd quarter. Inspire Investing LLC now owns 2,484 shares of the company’s stock valued at $286,000 after acquiring an additional 448 shares during the last quarter. Creative Planning boosted its position in shares of Datadog by 17.6% during the 3rd quarter. Creative Planning now owns 17,141 shares of the company’s stock valued at $1,972,000 after acquiring an additional 2,563 shares during the last quarter. Swedbank AB boosted its position in shares of Datadog by 3.2% during the 3rd quarter. Swedbank AB now owns 110,712 shares of the company’s stock valued at $12,739,000 after acquiring an additional 3,483 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Datadog by 10.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,427 shares of the company’s stock valued at $394,000 after acquiring an additional 311 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Datadog by 0.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,224 shares of the company’s stock valued at $4,053,000 after acquiring an additional 314 shares during the last quarter. Hedge funds and other institutional investors 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.