Scotiabank Lowers Datadog (NASDAQ:DDOG) Price Target to $133.00

Datadog (NASDAQ:DDOG) had its price target lowered by stock analysts at Scotiabank from $135.00 to $133.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 2.47% from the stock’s current price.

A number of other brokerages also recently issued reports on DDOG. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Evercore ISI assumed coverage on Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 target price for the company. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a report on Thursday. DA Davidson raised Datadog from a “neutral” rating to a “buy” rating and increased their target price for the company from $115.00 to $140.00 in a report on Tuesday, October 1st. Finally, Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and increased their target price for the company from $135.00 to $155.00 in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $146.33.

Datadog Trading Up 1.1 %

Shares of NASDAQ:DDOG opened at $129.79 on Friday. The company has a market cap of $43.76 billion, a PE ratio of 288.43, a price-to-earnings-growth ratio of 22.93 and a beta of 1.10. The company’s 50 day moving average is $119.21 and its 200 day moving average is $119.49. Datadog has a twelve month low of $98.80 and a twelve month high of $138.61.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. Datadog’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 earnings per share. Equities research analysts predict that Datadog will post 0.42 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In related news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total value of $1,002,719.72. Following the completion of the transaction, the director now directly owns 451,533 shares in the company, valued at approximately $57,195,685.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Datadog news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total value of $1,002,719.72. Following the sale, the director now directly owns 451,533 shares in the company, valued at $57,195,685.11. This trade represents a 0.00 % decrease in their ownership of the stock. 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 firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the sale, the chief technology officer now owns 347,684 shares in the company, valued at approximately $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 444,291 shares of company stock worth $54,154,859 over the last ninety days. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several institutional investors have recently added to or reduced their stakes in DDOG. SouthState Corp acquired a new position in Datadog in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. increased its position in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after acquiring an additional 115 shares during the period. Blue Trust Inc. purchased a new stake in Datadog in the 2nd quarter valued at approximately $37,000. EverSource Wealth Advisors LLC boosted its holdings in Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Finally, American National Bank & Trust purchased a new stake in Datadog in the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.