Datadog (NASDAQ:DDOG) Price Target Raised to $170.00

Datadog (NASDAQ:DDOG) had its target price increased by Royal Bank of Canada from $151.00 to $170.00 in a report published on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on DDOG. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Thursday, November 7th. Stifel Nicolaus raised their price objective on Datadog from $141.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. DA Davidson increased their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, BNP Paribas assumed coverage on shares of Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.74.

Datadog Price Performance

NASDAQ:DDOG opened at $144.83 on Friday. Datadog has a one year low of $98.80 and a one year high of $170.08. The company has a market cap of $49.20 billion, a PE ratio of 273.27, a P/E/G ratio of 20.27 and a beta of 1.14. The firm’s 50 day simple moving average is $143.24 and its 200 day simple moving average is $127.46.

Insider Activity

In related news, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Amit Agarwal sold 150,000 shares of the company’s stock in a transaction dated 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 sale, the president now directly owns 214,275 shares of the company’s stock, valued at $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 661,667 shares of company stock worth $92,334,860 over the last 90 days. 11.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SouthState Corp bought a new stake in shares of Datadog during the 2nd quarter worth $26,000. True Wealth Design LLC raised its position in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares during the period. Meeder Asset Management Inc. raised its position in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares during the period. Quarry LP purchased a new position in Datadog in the third quarter valued at about $33,000. Finally, American National Bank & Trust bought a new position in shares of Datadog during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.