Datadog (NASDAQ:DDOG) Reaches New 12-Month Low Following Analyst Downgrade

Datadog, Inc. (NASDAQ:DDOG)’s share price hit a new 52-week low during mid-day trading on Monday after Jefferies Financial Group lowered their price target on the stock from $170.00 to $150.00. Jefferies Financial Group currently has a buy rating on the stock. Datadog traded as low as $96.63 and last traded at $98.17, with a volume of 441769 shares traded. The stock had previously closed at $101.10.

A number of other research firms have also recently weighed in on DDOG. Loop Capital boosted their price target on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. DA Davidson boosted their target price on shares of Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Macquarie reaffirmed an “outperform” rating and set a $200.00 price target on shares of Datadog in a research note on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of Datadog in a report on Tuesday, March 4th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.22.

Insider Activity

In other news, Director Amit Agarwal sold 25,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the transaction, the director now owns 195,667 shares of the company’s stock, valued at approximately $27,612,527.04. This trade represents a 11.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 601,412 shares of company stock worth $75,444,584. 11.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DDOG. Groupama Asset Managment lifted its stake in Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Datadog by 17,477.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock worth $573,923,000 after buying an additional 3,993,707 shares during the last quarter. Norges Bank acquired a new position in shares of Datadog in the 4th quarter valued at about $462,910,000. Jennison Associates LLC grew its position in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after buying an additional 3,005,300 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in shares of Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock valued at $392,830,000 after buying an additional 2,654,512 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Down 3.1 %

The firm’s 50 day moving average is $123.79 and its two-hundred day moving average is $130.95. The stock has a market cap of $33.59 billion, a price-to-earnings ratio of 192.11, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.