Datadog (NASDAQ:DDOG) Reaches New 12-Month Low Following Analyst Downgrade

Datadog, Inc. (NASDAQ:DDOG) shares hit a new 52-week low during mid-day trading on Monday after Jefferies Financial Group lowered their price target on the stock from $170.00 to $150.00. Jefferies Financial Group currently has a buy rating on the stock. Datadog traded as low as $96.63 and last traded at $98.17, with a volume of 441769 shares trading hands. The stock had previously closed at $101.10.

DDOG has been the subject of several other research reports. DA Davidson upped their price target on shares of Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, February 10th. Cantor Fitzgerald initiated coverage on shares of Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price for the company. Loop Capital increased their target price on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.22.

Insider Activity

In other news, Director Shardul Shah sold 7,916 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total value of $1,125,021.92. Following the transaction, the director now directly owns 427,785 shares of the company’s stock, valued at $60,796,804.20. This represents a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated 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 sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock valued at $75,444,584 over the last three months. Insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC grew its position in shares of Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Datadog in the 4th quarter valued at $30,000. Avior Wealth Management LLC increased its position in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares during the period. Putney Financial Group LLC acquired a new stake in shares of Datadog during the fourth quarter worth $32,000. Finally, Quarry LP bought a new stake in shares of Datadog in the third quarter valued at about $33,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Down 1.9 %

The firm has a market capitalization of $34.01 billion, a price-to-earnings ratio of 194.53, a P/E/G ratio of 44.03 and a beta of 1.22. The company’s 50 day moving average is $123.01 and its 200 day moving average is $130.88.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

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.