Analysts Set Datadog, Inc. (NASDAQ:DDOG) Target Price at $150.96

Shares of Datadog, Inc. (NASDAQ:DDOG) have been assigned an average recommendation of “Moderate Buy” from the twenty-nine brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, twenty-five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $150.96.

DDOG has been the subject of several recent research reports. Barclays lifted their price target on Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Rosenblatt Securities boosted their target price on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Thursday, November 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. Finally, BNP Paribas started coverage on shares of Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price on the stock.

Datadog Stock Up 1.4 %

Shares of NASDAQ:DDOG opened at $155.01 on Friday. The firm has a fifty day simple moving average of $129.72 and a two-hundred day simple moving average of $121.79. Datadog has a 52 week low of $98.80 and a 52 week high of $157.48. The stock has a market capitalization of $52.66 billion, a P/E ratio of 292.48, a PEG ratio of 20.01 and a beta of 1.11.

Insiders Place Their Bets

In other Datadog news, President Amit Agarwal sold 150,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the transaction, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This represents a 41.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the sale, the chief executive officer now owns 392,111 shares of the company’s stock, valued at $48,076,729.71. The trade was a 17.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 541,491 shares of company stock worth $68,927,496. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Institutional investors and hedge funds have recently bought and sold shares of the business. Holocene Advisors LP increased its holdings in shares of Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after buying an additional 1,097,815 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Datadog by 1,597.9% during the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after acquiring an additional 739,011 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in Datadog during the third quarter worth $52,561,000. Eagle Asset Management Inc. raised its position in Datadog by 72.4% in 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 grew its holdings in shares of Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after purchasing an additional 344,431 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.