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

Datadog (NASDAQ:DDOG) had its price objective decreased by Truist Financial from $140.00 to $120.00 in a research note released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

DDOG has been the topic of a number of other research reports. Citigroup lowered their target price on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Macquarie restated an “outperform” rating and issued a $200.00 target price on shares of Datadog in a report on Tuesday, February 11th. Rosenblatt Securities upped their price target on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Cantor Fitzgerald initiated coverage on Datadog in a research note on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective on the stock. Finally, Wolfe Research lowered shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.22.

Datadog Price Performance

DDOG stock opened at $101.71 on Monday. The company’s 50-day moving average is $121.49 and its 200-day moving average is $130.62. The stock has a market capitalization of $34.86 billion, a PE ratio of 199.44, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog has a 1 year low of $96.63 and a 1 year high of $170.08.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (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%. On average, analysts anticipate that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the sale, the chief technology officer now owns 371,865 shares in the company, valued at approximately $37,986,009.75. This trade represents a 25.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amit Agarwal sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the completion of the transaction, the director now directly owns 195,667 shares of the company’s stock, valued at approximately $27,612,527.04. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 601,412 shares of company stock valued at $75,444,584 in the last 90 days. 11.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Datadog

A number of large investors have recently added to or reduced their stakes in DDOG. Allworth Financial LP grew its holdings in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after purchasing an additional 75 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Datadog by 21.4% during the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares during the period. Farther Finance Advisors LLC raised its holdings in Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock worth $265,000 after purchasing an additional 92 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Datadog by 16.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock worth $95,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors 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.