Stifel Nicolaus Increases Datadog (NASDAQ:DDOG) Price Target to $165.00

Datadog (NASDAQ:DDOG) had its price objective lifted by Stifel Nicolaus from $141.00 to $165.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 5.70% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Mizuho boosted their price target on shares of Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Macquarie initiated coverage on shares of Datadog in a report on Thursday, December 12th. They issued an “outperform” rating and a $200.00 price target on the stock. UBS Group reissued an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, November 7th. Finally, Robert W. Baird boosted their price target on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $155.56.

Datadog Stock Performance

DDOG traded down $0.81 during mid-day trading on Wednesday, reaching $156.10. 1,016,635 shares of the stock were exchanged, compared to its average volume of 4,022,321. The company has a 50 day moving average price of $138.06 and a two-hundred day moving average price of $124.50. The stock has a market capitalization of $53.03 billion, a PE ratio of 294.36, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08.

Insider Buying and Selling

In related news, President Amit Agarwal sold 150,000 shares of the company’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 value of $18,904,500.00. Following the transaction, the president now directly owns 214,275 shares in the company, valued at approximately $27,005,078.25. This represents a 41.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Sean Michael Walters sold 2,322 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the completion of the transaction, the executive now owns 183,512 shares in the company, valued at approximately $22,939,000. This trade represents a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 713,446 shares of company stock worth $97,145,034. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DDOG. Holocene Advisors LP grew its position in Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after acquiring an additional 1,097,815 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Datadog by 1,597.9% during the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after purchasing an additional 739,011 shares during the period. Champlain Investment Partners LLC purchased a new stake in shares of Datadog during the third quarter valued at approximately $52,561,000. Eagle Asset Management Inc. boosted its stake 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 valued at $113,844,000 after purchasing an additional 384,121 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after purchasing an additional 344,431 shares during the period. 78.29% of the stock is currently 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.