Datadog (NASDAQ:DDOG) Stock Price Expected to Rise, Truist Financial Analyst Says

Datadog (NASDAQ:DDOG) had its price target raised by Truist Financial from $155.00 to $170.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 11.09% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. BMO Capital Markets lifted their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and issued a $165.00 target price on shares of Datadog in a report on Tuesday, November 19th. Macquarie initiated coverage on shares of Datadog in a report on Thursday. They issued an “outperform” rating and a $200.00 target price on the stock. DA Davidson lifted their price objective on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Robert W. Baird lifted their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.07.

Datadog Trading Down 2.4 %

Shares of DDOG stock opened at $153.03 on Thursday. The company has a market capitalization of $51.99 billion, a P/E ratio of 288.74, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11. The business’s 50 day moving average is $136.72 and its two-hundred day moving average is $123.88. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08.

Insider Buying and Selling at Datadog

In related news, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of the company’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 transaction, the general counsel now directly owns 68,758 shares in the company, valued at $10,866,514.32. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 713,446 shares of company stock worth $97,145,034. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several large investors have recently added to or reduced their stakes in DDOG. SouthState Corp purchased a new position in shares of Datadog during the 2nd quarter worth about $26,000. 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 worth $28,000 after purchasing an additional 240 shares during the period. Meeder Asset Management Inc. raised its stake in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares during the period. Quarry LP purchased a new position in Datadog during the third quarter worth approximately $33,000. Finally, Blue Trust Inc. purchased a new position in Datadog during the second quarter worth approximately $37,000. 78.29% of the stock is currently owned by hedge funds and other 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.