Truist Financial Cuts Datadog (NASDAQ:DDOG) Price Target to $120.00

Datadog (NASDAQ:DDOG) had its price objective dropped by equities researchers at Truist Financial from $140.00 to $120.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 18.69% from the stock’s current price.

A number of other brokerages have also recently issued reports on DDOG. Guggenheim restated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Macquarie reissued an “outperform” rating and issued a $200.00 price target on shares of Datadog in a research report on Tuesday, February 11th. Wolfe Research cut shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Loop Capital upped their price objective on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Finally, Mizuho increased their target price on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average price target of $157.96.

Datadog Stock Performance

NASDAQ DDOG opened at $101.10 on Monday. Datadog has a twelve month low of $98.30 and a twelve month high of $170.08. The stock has a market cap of $34.65 billion, a PE ratio of 198.24, a PEG ratio of 44.03 and a beta of 1.22. The firm has a 50-day simple moving average of $123.79 and a 200 day simple moving average of $130.95.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data 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 return on equity of 8.28% and a net margin of 6.85%. Research analysts forecast that Datadog will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the completion of the sale, the director now directly owns 427,785 shares of the company’s stock, valued at $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $53,103,862.98. The trade was a 2.86 % 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 valued at $75,444,584. 11.78% of the stock is currently owned by insiders.

Institutional Trading of Datadog

Institutional investors and hedge funds have recently modified their holdings of the stock. Retirement Wealth Solutions LLC bought a new position in shares of Datadog during the fourth quarter worth $30,000. Putney Financial Group LLC bought a new position in Datadog during the fourth quarter worth about $32,000. Avior Wealth Management LLC grew its stake in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares during the period. Elequin Capital LP bought a new stake in shares of Datadog in the fourth quarter worth about $34,000. Finally, True Wealth Design LLC raised its position in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. 78.29% of the stock is 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.