Truist Financial Cuts Datadog (NASDAQ:DDOG) Price Target to $120.00

Datadog (NASDAQ:DDOG) had its price objective reduced by Truist Financial from $140.00 to $120.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

DDOG has been the topic of a number of other research reports. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. DA Davidson raised their target price on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Royal Bank of Canada boosted their target price on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Barclays dropped their price target on Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Finally, Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and reduced their price objective for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $157.22.

Datadog Trading Up 0.6 %

DDOG stock opened at $101.71 on Monday. The stock’s 50 day simple moving average is $121.49 and its 200 day simple moving average is $130.62. Datadog has a 12-month low of $96.63 and a 12-month high of $170.08. The stock has a market capitalization of $34.86 billion, a PE ratio of 199.44, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, research analysts predict that Datadog will post 0.34 earnings per share for the current year.

Insider Activity

In other news, CEO Olivier Pomel sold 11,195 shares of Datadog stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the sale, the chief executive officer now owns 379,693 shares in the company, valued at $53,103,862.98. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the completion of the transaction, the director now directly owns 195,667 shares in the company, valued at $27,612,527.04. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 601,412 shares of company stock worth $75,444,584 over the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several large investors have recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new position in Datadog during the fourth quarter valued at approximately $30,000. Putney Financial Group LLC bought a new position in shares of Datadog during the 4th quarter valued at approximately $32,000. Avior Wealth Management LLC grew its holdings in shares of Datadog by 55.9% in 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 in the last quarter. Elequin Capital LP bought a new stake in Datadog in the fourth quarter worth $34,000. Finally, True Wealth Design LLC raised its stake in Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

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.