Truist Financial Lowers Datadog (NASDAQ:DDOG) Price Target to $120.00

Datadog (NASDAQ:DDOG) had its target price reduced by Truist Financial from $140.00 to $120.00 in a report published on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research analysts also recently commented on the stock. Stifel Nicolaus lowered shares of Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Needham & Company LLC restated a “buy” rating and set a $160.00 price target on shares of Datadog in a research report on Tuesday, March 4th. Cantor Fitzgerald started coverage on Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective on the stock. Finally, Barclays dropped their target price on Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.22.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $99.21 on Monday. Datadog has a one year low of $96.63 and a one year high of $170.08. The firm has a market capitalization of $34.01 billion, a price-to-earnings ratio of 194.53, a PEG ratio of 44.03 and a beta of 1.22. The company’s fifty day moving average price is $123.01 and its 200-day moving average price is $130.88.

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

Insider Activity at Datadog

In other news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the transaction, the director now owns 195,667 shares in the company, valued at $27,612,527.04. This trade represents a 11.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 11,195 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $53,103,862.98. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock worth $75,444,584 over the last quarter. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several institutional investors and hedge funds have recently modified their holdings of DDOG. Vanguard Group Inc. increased its stake in Datadog by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock worth $4,337,316,000 after buying an additional 220,527 shares in the last quarter. Baillie Gifford & Co. grew its position in shares of Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. Jennison Associates LLC raised its stake in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Groupama Asset Managment lifted its holdings in Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after purchasing an additional 5,299,688 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Datadog by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after purchasing an additional 499,055 shares during the period. 78.29% of the stock is currently owned by 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.