Rosenblatt Securities Issues Positive Forecast for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its price objective increased by Rosenblatt Securities from $148.00 to $160.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 8.07% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Truist Financial downgraded Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the company from $170.00 to $150.00 in a research note on Tuesday, January 7th. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a research note on Thursday, January 16th. Citigroup upped their price objective on Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, DA Davidson upped their price objective on Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.52.

Datadog Stock Up 1.8 %

Shares of DDOG stock traded up $2.63 on Wednesday, reaching $148.05. The company had a trading volume of 3,256,909 shares, compared to its average volume of 4,174,512. The stock has a market capitalization of $50.29 billion, a PE ratio of 279.34, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15. Datadog has a one year low of $98.80 and a one year high of $170.08. The business’s 50-day moving average is $146.75 and its 200 day moving average is $130.77.

Insider Buying and Selling

In other Datadog news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the transaction, the director now directly owns 435,701 shares in the company, valued at approximately $67,642,580.25. This trade represents a 1.78 % 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, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the transaction, the president now owns 214,275 shares in the company, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 777,586 shares of company stock worth $111,444,979 in the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Large investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC lifted its stake in Datadog by 172.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after acquiring an additional 24,574 shares in the last quarter. Heritage Investors Management Corp bought a new position in Datadog during the 3rd quarter valued at $1,157,000. Atom Investors LP bought a new stake in shares of Datadog during the 3rd quarter worth $1,112,000. Parnassus Investments LLC raised its stake in shares of Datadog by 28.4% during the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after purchasing an additional 40,952 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after purchasing an additional 126,613 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.