Datadog (NASDAQ:DDOG) PT Lowered to $135.00 at Scotiabank

Datadog (NASDAQ:DDOG) had its price target cut by equities research analysts at Scotiabank from $145.00 to $135.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 20.24% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a research note on Thursday, August 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 price target on shares of Datadog in a report on Monday, July 22nd. Barclays reduced their target price on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday. Loop Capital reaffirmed a “buy” rating and set a $160.00 price target on shares of Datadog in a research note on Friday, July 5th. Finally, Wedbush reissued an “outperform” rating and issued a $155.00 price objective on shares of Datadog in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.83.

Datadog Trading Down 1.6 %

DDOG traded down $1.78 on Friday, reaching $112.28. 4,455,197 shares of the company’s stock were exchanged, compared to its average volume of 4,125,187. Datadog has a twelve month low of $77.81 and a twelve month high of $138.61. The company’s 50 day moving average is $119.33 and its 200-day moving average is $123.17. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. The company has a market cap of $37.56 billion, a price-to-earnings ratio of 350.88, a PEG ratio of 37.24 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last issued its earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The business had revenue of $611.25 million for the quarter, compared to the consensus estimate of $589.97 million. Equities analysts predict that Datadog will post 0.32 earnings per share for the current year.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the sale, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Madre Armelle De sold 300 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $125.00, for a total value of $37,500.00. Following the completion of the sale, the insider now directly owns 99,965 shares of the company’s stock, valued at approximately $12,495,625. The disclosure for this sale can be found here. Insiders sold a total of 857,306 shares of company stock valued at $101,950,263 in the last three months. 11.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently modified their holdings of the company. SouthState Corp purchased a new stake in shares of Datadog during the second quarter worth $26,000. Riverview Trust Co bought a new position in Datadog during the first quarter valued at about $26,000. Raleigh Capital Management Inc. bought a new position in Datadog during the fourth quarter valued at about $29,000. Private Trust Co. NA raised its holdings in Datadog by 743.3% during the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after buying an additional 223 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in Datadog during the fourth quarter valued at about $33,000. 78.29% of the stock is currently 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.