Truist Financial Cuts Datadog (NASDAQ:DDOG) Price Target to $140.00

Datadog (NASDAQ:DDOG) had its price target lowered by Truist Financial from $150.00 to $140.00 in a research report report published on Friday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research analysts have also commented on the stock. Mizuho raised their price objective 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. TD Cowen reissued a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. Stifel Nicolaus lowered shares of Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Finally, Sanford C. Bernstein dropped their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.39.

Datadog Price Performance

Shares of DDOG stock opened at $131.01 on Friday. The firm has a market cap of $44.51 billion, a PE ratio of 247.19, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15. The company has a 50-day moving average of $145.10 and a two-hundred day moving average of $131.13. Datadog has a 1-year low of $98.80 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 9.41% and a net margin of 7.58%. Sell-side analysts anticipate that Datadog will post 0.53 EPS for the current fiscal year.

Insider Transactions at Datadog

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at $45,861,901.38. The trade was a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 627,586 shares of company stock valued at $92,540,479 in the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several institutional investors have recently made changes to their positions in the stock. Allworth Financial LP grew its stake in shares of Datadog by 7.7% during the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after buying an additional 75 shares during the period. Spire Wealth Management lifted its holdings in shares of Datadog by 21.4% during the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after acquiring an additional 80 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares in the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Datadog by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after acquiring an additional 91 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Datadog by 5.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock valued at $265,000 after acquiring an additional 92 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.