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

Datadog (NASDAQ:DDOG) had its target price trimmed by Sanford C. Bernstein from $157.00 to $151.00 in a research report released on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on DDOG. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Scotiabank lowered their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Friday, August 9th. DA Davidson upgraded shares of Datadog from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $115.00 to $140.00 in a research note on Tuesday, October 1st. Evercore ISI started coverage on shares of Datadog in a research report on Monday, July 15th. They issued an “outperform” rating and a $150.00 target price for the company. Finally, BMO Capital Markets lowered their target price on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus price target of $142.43.

Datadog Stock Performance

DDOG stock opened at $123.89 on Monday. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61. The stock has a market capitalization of $41.44 billion, a price-to-earnings ratio of 386.00, a PEG ratio of 22.85 and a beta of 1.11. The stock’s fifty day moving average is $117.21 and its two-hundred day moving average is $119.46.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $624.92 million. During the same period last year, the firm posted $0.36 EPS. Datadog’s quarterly revenue was up 26.7% compared to the same quarter last year. As a group, analysts predict that Datadog will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Kerry Acocella sold 2,452 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.06, for a total value of $294,387.12. Following the completion of the sale, the general counsel now owns 74,421 shares in the company, valued at $8,934,985.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel Kerry Acocella sold 2,452 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.06, for a total value of $294,387.12. Following the transaction, the general counsel now owns 74,421 shares in the company, valued at $8,934,985.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the sale, the chief executive officer now owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 529,928 shares of company stock worth $63,079,091. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently modified their holdings of the company. Riverview Trust Co acquired a new position in Datadog in the 1st quarter worth about $26,000. SouthState Corp acquired a new position in Datadog in the second quarter worth approximately $26,000. Blue Trust Inc. bought a new position in Datadog during the second quarter valued at approximately $37,000. EverSource Wealth Advisors LLC raised its position in Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after acquiring an additional 127 shares in the last quarter. Finally, American National Bank & Trust bought a new stake in Datadog in the third quarter worth approximately $39,000. 78.29% of the stock is currently owned by hedge funds and other 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.