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

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

Several other research firms have also recently commented on DDOG. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 target price on shares of Datadog in a research note on Monday, July 22nd. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. DA Davidson raised Datadog from a “neutral” rating to a “buy” rating and raised their price target for the stock from $115.00 to $140.00 in a research note on Tuesday, October 1st. Evercore ISI began coverage on Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 price target for the company. Finally, UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.43.

Datadog Stock Down 1.8 %

NASDAQ DDOG opened at $125.81 on Monday. The stock has a market cap of $42.08 billion, a price-to-earnings ratio of 393.16, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The business has a fifty day moving average of $116.86 and a 200-day moving average of $119.44.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. As a group, analysts anticipate that Datadog will post 0.42 EPS for the current year.

Insider Activity

In related news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, August 5th. The shares were 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 $42,237,771.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total value of $290,250.00. Following the sale, the executive now directly owns 183,512 shares in the company, valued at approximately $22,939,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 529,928 shares of company stock worth $63,079,091. 11.78% of the stock is currently owned by company insiders.

Institutional Trading of Datadog

A number of hedge funds have recently made changes to their positions in DDOG. Foundations Investment Advisors LLC boosted its stake in Datadog by 14.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 5,411 shares of the company’s stock valued at $623,000 after acquiring an additional 702 shares during the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Datadog by 80.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 426 shares of the company’s stock valued at $49,000 after purchasing an additional 190 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Datadog by 3.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 19,530 shares of the company’s stock worth $2,247,000 after purchasing an additional 682 shares during the last quarter. Whittier Trust Co. grew its stake in Datadog by 3.6% in the third quarter. Whittier Trust Co. now owns 55,281 shares of the company’s stock worth $6,360,000 after purchasing an additional 1,921 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Datadog by 80.3% during the third quarter. Blue Trust Inc. now owns 539 shares of the company’s stock valued at $62,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.