Datadog, Inc. (NASDAQ:DDOG) Receives $157.04 Consensus Target Price from Analysts

Shares of Datadog, Inc. (NASDAQ:DDOG) have been given an average rating of “Moderate Buy” by the thirty analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, twenty-six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $157.04.

Several analysts have issued reports on the company. Stifel Nicolaus upped their price objective on Datadog from $141.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Mizuho lifted their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Scotiabank reduced their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Finally, Robert W. Baird increased their price target on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th.

Datadog Price Performance

Datadog stock opened at $144.17 on Thursday. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The firm has a market capitalization of $48.98 billion, a PE ratio of 272.02, a P/E/G ratio of 20.27 and a beta of 1.11. The company’s 50-day moving average is $141.32 and its 200-day moving average is $126.54.

Insiders Place Their Bets

In related news, General Counsel Kerry Acocella sold 2,452 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.06, for a total transaction of $294,387.12. Following the sale, the general counsel now owns 74,421 shares in the company, valued at $8,934,985.26. The trade was a 3.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Shardul Shah sold 15,832 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the transaction, the director now owns 459,449 shares of the company’s stock, valued at $55,143,068.98. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 765,588 shares of company stock valued at $105,029,356. 11.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Datadog

Institutional investors and hedge funds have recently made changes to their positions in the stock. SouthState Corp bought a new stake in shares of Datadog during the 2nd quarter valued at about $26,000. True Wealth Design LLC grew its position in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the period. Meeder Asset Management Inc. increased its stake in shares of 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 in the last quarter. Quarry LP acquired a new position in shares of Datadog during the 3rd quarter valued at $33,000. Finally, American National Bank & Trust bought a new position in Datadog during the third quarter worth $39,000. Institutional investors and hedge funds 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.