Citigroup Lowers Datadog (NASDAQ:DDOG) Price Target to $165.00

Datadog (NASDAQ:DDOG) had its price objective dropped by Citigroup from $170.00 to $165.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 26.49% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. JMP Securities restated a “market perform” rating on shares of Datadog in a report on Friday. Rosenblatt Securities upped their price target on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank dropped their price target on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada upped their price target on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average target price of $158.10.

Datadog Stock Performance

Shares of NASDAQ DDOG traded down $5.44 during mid-day trading on Friday, hitting $130.45. The stock had a trading volume of 4,122,434 shares, compared to its average volume of 4,822,716. The business has a 50 day moving average price of $145.85 and a two-hundred day moving average price of $130.93. The firm has a market cap of $44.32 billion, a P/E ratio of 246.45, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 7.58% and a return on equity of 9.41%. Equities research analysts predict that Datadog will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at $46,371,802.84. This represents a 28.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David M. Obstler sold 33,334 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $135.95, for a total value of $4,531,757.30. Following the completion of the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $42,709,780.10. The trade was a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 627,586 shares of company stock valued at $92,540,479. 11.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC boosted its position in shares of 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 during the last quarter. Heritage Investors Management Corp bought a new stake in Datadog in the third quarter worth $1,157,000. Atom Investors LP bought a new stake in Datadog in the third quarter worth $1,112,000. Parnassus Investments LLC lifted its position in Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after buying an additional 40,952 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after buying an additional 126,613 shares during the last quarter. 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.