BMO Capital Markets Cuts Datadog (NASDAQ:DDOG) Price Target to $132.00

Datadog (NASDAQ:DDOG) had its price target reduced by BMO Capital Markets from $140.00 to $132.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also issued reports on the company. Barclays dropped their price objective on Datadog from $145.00 to $140.00 and set an overweight rating on the stock in a report on Friday. UBS Group raised their price objective on Datadog from $120.00 to $125.00 and gave the company a neutral rating in a research note on Friday. Stifel Nicolaus restated a buy rating and set a $152.00 target price on shares of Datadog in a research report on Monday, April 22nd. Cantor Fitzgerald reissued an overweight rating and issued a $150.00 price target on shares of Datadog in a report on Monday, July 22nd. Finally, Evercore ISI started coverage on shares of Datadog in a research note on Monday, July 15th. They set an outperform rating and a $150.00 price objective on the stock. Four analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $138.93.

Datadog Stock Down 1.6 %

Shares of NASDAQ DDOG traded down $1.78 during midday trading on Friday, hitting $112.28. 4,515,414 shares of the company’s stock were exchanged, compared to its average volume of 4,125,572. The firm’s fifty day simple moving average is $119.38 and its 200-day simple moving average is $122.98. The company has a market cap of $37.56 billion, a PE ratio of 350.88, a P/E/G ratio of 37.24 and a beta of 1.11. Datadog has a twelve month low of $77.81 and a twelve month high of $138.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 98,690 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $109.16, for a total value of $10,773,000.40. Following the completion of the sale, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $35,426,677.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Datadog news, COO Adam Blitzer sold 11,946 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $109.45, for a total transaction of $1,307,489.70. Following the completion of the transaction, the chief operating officer now directly owns 236,640 shares of the company’s stock, valued at approximately $25,900,248. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 98,690 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $109.16, for a total value of $10,773,000.40. Following the transaction, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at approximately $35,426,677.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 857,306 shares of company stock worth $101,950,263. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently made changes to their positions in DDOG. Vanguard Group Inc. grew its position in Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after buying an additional 171,693 shares during the last quarter. Sands Capital Management LLC grew its holdings in shares of Datadog by 3.7% in the 4th quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock worth $554,073,000 after acquiring an additional 162,108 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares during the period. Norges Bank purchased a new stake in shares of Datadog during the fourth quarter valued at $384,986,000. Finally, 1832 Asset Management L.P. boosted its position in shares of Datadog by 47.9% in the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after purchasing an additional 848,000 shares during the period. 78.29% of the stock is currently owned by institutional investors.

About Datadog

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.