Datadog (NASDAQ:DDOG) Earns “Outperform” Rating from Macquarie

Datadog (NASDAQ:DDOG)‘s stock had its “outperform” rating reissued by analysts at Macquarie in a report released on Tuesday,Benzinga reports. They currently have a $200.00 price objective on the stock. Macquarie’s price target points to a potential upside of 37.53% from the company’s previous close.

Several other analysts also recently commented on DDOG. Scotiabank dropped their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Rosenblatt Securities boosted their price target on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Robert W. Baird lifted their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada increased their target price on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group lifted their price target on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.10.

Datadog Price Performance

Shares of DDOG stock traded down $1.68 on Tuesday, reaching $145.42. 3,397,808 shares of the company were exchanged, compared to its average volume of 4,214,133. The company has a 50-day moving average of $146.95 and a 200-day moving average of $130.58. The company has a market cap of $49.40 billion, a price-to-earnings ratio of 274.38, a PEG 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.

Insiders Place Their Bets

In related news, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the transaction, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction 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 sale, the chief technology officer now directly owns 324,778 shares in the company, 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. Over the last 90 days, insiders sold 777,586 shares of company stock worth $111,444,979. 11.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Datadog

Several institutional investors have recently modified their holdings of the business. EFG Asset Management North America Corp. raised its stake in Datadog by 4.0% during the 4th quarter. EFG Asset Management North America Corp. now owns 28,871 shares of the company’s stock valued at $4,124,000 after buying an additional 1,105 shares during the last quarter. Congress Wealth Management LLC DE purchased a new stake in Datadog during the fourth quarter valued at $315,000. Emerald Advisers LLC boosted its position in Datadog by 138.1% in the fourth quarter. Emerald Advisers LLC now owns 9,203 shares of the company’s stock worth $1,315,000 after purchasing an additional 5,338 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Datadog by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after purchasing an additional 220,527 shares during the period. Finally, LPL Financial LLC lifted its stake in shares of Datadog by 34.4% in the 4th quarter. LPL Financial LLC now owns 152,243 shares of the company’s stock worth $21,754,000 after purchasing an additional 38,937 shares during the period. 78.29% of the stock is owned by hedge funds and other 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.