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

Datadog (NASDAQ:DDOG) had its target price raised by equities researchers at Loop Capital from $160.00 to $200.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price objective would indicate a potential upside of 34.77% from the company’s current price.

DDOG has been the subject of a number of other research reports. Rosenblatt Securities raised their price target on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. BMO Capital Markets raised their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Macquarie started coverage on Datadog in a research report on Thursday, December 12th. They set an “outperform” rating and a $200.00 price target for the company. Mizuho increased their price objective on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Sanford C. Bernstein reduced their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average target price of $157.04.

Datadog Stock Up 0.6 %

DDOG opened at $148.40 on Monday. The firm’s 50-day moving average price is $139.65 and its 200-day moving average price is $125.60. The company has a market cap of $50.41 billion, a P/E ratio of 280.01, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11. Datadog has a 52-week low of $98.80 and a 52-week high of $170.08.

Insider Activity at Datadog

In related news, President Amit Agarwal sold 150,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the sale, the president now owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This represents a 41.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the completion of the transaction, the director now directly owns 459,449 shares in the company, valued at $55,143,068.98. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 740,588 shares of company stock valued at $101,329,606. 11.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Datadog

Hedge funds have recently modified their holdings of the company. Jennison Associates LLC lifted its stake in shares of Datadog by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after purchasing an additional 126,613 shares during the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 125,457 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Datadog by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after acquiring an additional 331,808 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Datadog by 5.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after buying an additional 138,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Datadog by 2.4% in 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.

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.