Datadog (NASDAQ:DDOG) Price Target Lowered to $140.00 at Needham & Company LLC

Datadog (NASDAQ:DDOG) had its price objective decreased by Needham & Company LLC from $165.00 to $140.00 in a research report sent to investors on Friday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other analysts also recently weighed in on the company. Mizuho upgraded Datadog from a neutral rating to an outperform rating and raised their target price for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. Baird R W upgraded Datadog from a hold rating to a strong-buy rating in a report on Wednesday, May 8th. Wedbush reiterated an outperform rating and set a $155.00 target price on shares of Datadog in a research note on Wednesday, June 26th. JMP Securities upgraded shares of Datadog to a hold rating in a research note on Wednesday, May 8th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $150.00 price target on shares of Datadog in a report on Monday, July 22nd. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $138.93.

Datadog Stock Down 1.6 %

NASDAQ:DDOG traded down $1.78 during trading hours on Friday, hitting $112.28. The stock had a trading volume of 4,515,414 shares, compared to its average volume of 4,125,572. The company has a market cap of $37.56 billion, a PE ratio of 350.88, a price-to-earnings-growth ratio of 37.24 and a beta of 1.11. The business has a 50 day simple moving average of $119.38 and a two-hundred day simple moving average of $122.98. Datadog has a 1-year low of $77.81 and a 1-year high of $138.61. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the transaction, the chief executive officer now owns 405,314 shares in the company, valued at approximately $42,237,771.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the transaction, the chief executive officer now owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Madre Armelle De sold 1,749 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $109.44, for a total transaction of $191,410.56. Following the completion of the sale, the insider now directly owns 93,774 shares of the company’s stock, valued at $10,262,626.56. The disclosure for this sale can be found here. Insiders have sold a total of 857,306 shares of company stock worth $101,950,263 in the last three months. 11.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DDOG. Norges Bank acquired a new position in Datadog in the fourth quarter worth approximately $384,986,000. Kodai Capital Management LP acquired a new stake in shares of Datadog during the first quarter worth $116,054,000. 1832 Asset Management L.P. lifted its holdings in shares of Datadog by 47.9% during the fourth 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 last quarter. DNB Asset Management AS boosted its position in shares of Datadog by 1,974.5% in the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after purchasing an additional 806,741 shares during the period. Finally, Vanguard Group Inc. increased its stake in Datadog by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock worth $3,308,748,000 after purchasing an additional 734,539 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

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.