Datadog (NASDAQ:DDOG) Earns “Neutral” Rating from Guggenheim

Datadog (NASDAQ:DDOG)‘s stock had its “neutral” rating reissued by equities researchers at Guggenheim in a research note issued on Wednesday,Benzinga reports.

Several other research firms have also recently commented on DDOG. BNP Paribas started coverage on shares of Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target on the stock. Mizuho increased their price target on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Rosenblatt Securities increased their price target on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Cantor Fitzgerald initiated coverage on shares of Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective on the stock. Finally, Stifel Nicolaus raised their price objective on shares of Datadog from $141.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.45.

Datadog Price Performance

DDOG opened at $140.20 on Wednesday. Datadog has a one year low of $98.80 and a one year high of $170.08. The company’s 50 day simple moving average is $146.89 and its 200-day simple moving average is $128.74. The stock has a market capitalization of $47.63 billion, a P/E ratio of 264.53, a price-to-earnings-growth ratio of 16.09 and a beta of 1.14.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. The trade was a 32.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Matthew Jacobson sold 3,393 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the sale, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 617,679 shares of company stock valued at $88,668,671. 11.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its position in Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after buying an additional 126,613 shares in the last quarter. Geode Capital Management LLC lifted its position in Datadog by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock worth $595,438,000 after buying an additional 125,457 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Datadog by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after purchasing an additional 46,746 shares during the period. Holocene Advisors LP raised its holdings in shares of Datadog by 205.2% in the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Datadog by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock valued at $135,377,000 after purchasing an additional 29,404 shares during the period. 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.