Datadog’s (DDOG) Neutral Rating Reaffirmed at Guggenheim

Guggenheim reaffirmed their neutral rating on shares of Datadog (NASDAQ:DDOG) in a research note published on Wednesday,Benzinga reports.

Other analysts have also issued reports about the stock. BNP Paribas started coverage on shares of Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price for the company. Robert W. Baird boosted their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada raised their target price on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Morgan Stanley reissued an “equal weight” rating and set a $143.00 price target on shares of Datadog in a report on Thursday, January 16th. Finally, Scotiabank reduced their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.45.

Datadog Price Performance

NASDAQ DDOG opened at $140.12 on Wednesday. The stock has a market capitalization of $47.60 billion, a price-to-earnings ratio of 264.38, a PEG ratio of 16.31 and a beta of 1.14. Datadog has a 1-year low of $98.80 and a 1-year high of $170.08. The business’s fifty day moving average price is $146.65 and its 200-day moving average price is $128.66.

Insider Activity

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the transaction, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the transaction, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 617,679 shares of company stock worth $88,668,671. 11.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Datadog

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its stake in shares of Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after acquiring an additional 126,613 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Datadog by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock worth $595,438,000 after buying an additional 125,457 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Datadog by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after buying an additional 46,746 shares during the period. Holocene Advisors LP raised its holdings in shares of Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after acquiring an additional 1,097,815 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Datadog by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock worth $135,377,000 after acquiring an additional 29,404 shares in the last quarter. 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.