Datadog (NASDAQ:DDOG) Price Target Cut to $120.00 by Analysts at UBS Group

Datadog (NASDAQ:DDOG) had its price objective decreased by UBS Group from $164.00 to $120.00 in a report issued on Tuesday morning, MarketBeat reports. UBS Group currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on DDOG. DA Davidson dropped their price target on Datadog from $165.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday. Citigroup lowered their target price on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Scotiabank reduced their price target on shares of Datadog from $155.00 to $125.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. Loop Capital boosted their price objective on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average target price of $153.41.

Datadog Price Performance

NASDAQ DDOG opened at $92.55 on Tuesday. The company has a market capitalization of $31.72 billion, a price-to-earnings ratio of 181.47, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20. Datadog has a 12 month low of $81.63 and a 12 month high of $170.08. The company’s fifty day moving average price is $109.98 and its two-hundred day moving average price is $128.77.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.13 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%. As a group, analysts anticipate that Datadog will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 324,778 shares of the company’s stock, valued at $46,371,802.84. The trade was a 28.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the sale, the chief executive officer now directly owns 563,598 shares of the company’s stock, valued at approximately $49,219,013.34. This represents a 16.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 548,756 shares of company stock worth $62,219,250. 11.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Datadog

A number of institutional investors and hedge funds have recently modified their holdings of DDOG. Retirement Wealth Solutions LLC acquired a new stake in Datadog during the 4th quarter worth about $30,000. Putney Financial Group LLC purchased a new position in shares of Datadog in the fourth quarter worth approximately $32,000. Avior Wealth Management LLC raised its holdings in shares of Datadog by 55.9% during 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 purchased a new stake in shares of Datadog in the 4th quarter valued at approximately $34,000. Finally, Coppell Advisory Solutions LLC boosted its stake in Datadog by 178.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock worth $40,000 after purchasing an additional 177 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

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.