Mizuho Issues Positive Forecast for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its price objective boosted by Mizuho from $155.00 to $170.00 in a research note issued to investors on Friday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other research analysts have also recently commented on the company. Barclays increased their price target on Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. BMO Capital Markets raised their target price on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Citigroup lifted their price objective on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Macquarie began coverage on Datadog in a report on Thursday. They set an “outperform” rating and a $200.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.07.

Datadog Price Performance

Datadog stock opened at $153.03 on Friday. The company has a market cap of $51.99 billion, a price-to-earnings ratio of 288.74, a P/E/G ratio of 20.27 and a beta of 1.11. The firm has a 50-day moving average of $136.72 and a 200-day moving average of $123.90. Datadog has a one year low of $98.80 and a one year high of $170.08.

Insider Buying and Selling at Datadog

In other Datadog news, CFO David M. Obstler sold 33,333 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $125.70, for a total value of $4,189,958.10. Following the transaction, the chief financial officer now directly owns 314,158 shares of the company’s stock, valued at $39,489,660.60. This trade represents a 9.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the company’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 transaction of $10,499,952.57. Following the sale, the chief executive officer now directly owns 392,111 shares of the company’s stock, valued at approximately $48,076,729.71. This trade represents a 17.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 713,446 shares of company stock valued at $97,145,034 in the last three months. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DDOG. Holocene Advisors LP boosted 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 in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Datadog by 1,597.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after buying an additional 739,011 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in Datadog in the third quarter valued at about $52,561,000. Eagle Asset Management Inc. boosted its stake 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 buying an additional 384,121 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after acquiring an additional 344,431 shares during the last quarter. 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.