Datadog (NASDAQ:DDOG) Price Target Raised to $170.00 at Jefferies Financial Group

Datadog (NASDAQ:DDOG) had its price target hoisted by Jefferies Financial Group from $155.00 to $170.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on DDOG. TD Cowen reiterated a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. Loop Capital increased their price objective on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. UBS Group reissued an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Finally, Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.18.

Datadog Trading Up 0.8 %

Datadog stock opened at $146.04 on Monday. The firm has a market capitalization of $49.61 billion, a P/E ratio of 275.55, a P/E/G ratio of 20.27 and a beta of 1.14. The stock’s fifty day simple moving average is $143.63 and its 200-day simple moving average is $127.68. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the completion of the transaction, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at approximately $43,476,219.45. This represents a 27.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $147.99, for a total value of $3,699,750.00. Following the completion of the sale, the president now directly owns 195,667 shares of the company’s stock, valued at $28,956,759.33. This represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 626,012 shares of company stock worth $87,854,652. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DDOG. Jennison Associates LLC grew its stake in shares of 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 purchasing an additional 126,613 shares during the period. Geode Capital Management LLC boosted its holdings in Datadog by 2.5% during the third 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. Massachusetts Financial Services Co. MA grew its position in Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after buying an additional 331,808 shares during the period. 1832 Asset Management L.P. increased its holdings in Datadog by 5.9% in the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after buying an additional 138,700 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Datadog by 2.4% during 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 acquiring an additional 46,746 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.