Datadog, Inc. (NASDAQ:DDOG – Get Rating)’s share price gapped down prior to trading on Wednesday after Truist Financial lowered their price target on the stock from $155.00 to $120.00. The stock had previously closed at $88.75, but opened at $82.40. Datadog shares last traded at $84.83, with a volume of 70,353 shares traded.
DDOG has been the subject of a number of other research reports. Barclays reduced their target price on Datadog from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, October 18th. Robert W. Baird reiterated an “outperform” rating and set a $120.00 price objective on shares of Datadog in a research note on Wednesday, September 21st. Canaccord Genuity Group upgraded Datadog from a “hold” rating to a “buy” rating and reduced their price objective for the company from $120.00 to $110.00 in a research note on Thursday, October 20th. Bank of America began coverage on Datadog in a research note on Thursday, September 1st. They set a “buy” rating and a $135.00 price objective for the company. Finally, Canaccord Genuity Group upgraded Datadog from a “hold” rating to a “buy” rating and reduced their price objective for the company from $120.00 to $110.00 in a research note on Thursday, October 20th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $138.96.
Insider Buying and Selling at Datadog
In other Datadog news, insider Madre Armelle De sold 3,750 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $99.92, for a total value of $374,700.00. Following the completion of the transaction, the insider now owns 67,804 shares in the company, valued at $6,774,975.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Datadog news, insider Madre Armelle De sold 3,750 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $99.92, for a total value of $374,700.00. Following the completion of the transaction, the insider now owns 67,804 shares in the company, valued at $6,774,975.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David M. Obstler sold 5,000 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $100.25, for a total transaction of $501,250.00. Following the completion of the transaction, the chief financial officer now owns 209,810 shares of the company’s stock, valued at approximately $21,033,452.50. The disclosure for this sale can be found here. Insiders sold 94,507 shares of company stock worth $10,148,963 over the last 90 days. Corporate insiders own 15.80% of the company’s stock.
Institutional Investors Weigh In On Datadog
Hedge funds have recently made changes to their positions in the business. Vista Wealth Management Group LLC raised its holdings in Datadog by 10.0% during the third quarter. Vista Wealth Management Group LLC now owns 242,191 shares of the company’s stock worth $19,964,000 after purchasing an additional 22,084 shares in the last quarter. Raymond James & Associates increased its holdings in Datadog by 16.5% in the third quarter. Raymond James & Associates now owns 75,838 shares of the company’s stock valued at $6,733,000 after buying an additional 10,762 shares in the last quarter. AE Wealth Management LLC increased its holdings in Datadog by 15.8% in the third quarter. AE Wealth Management LLC now owns 7,602 shares of the company’s stock valued at $675,000 after buying an additional 1,040 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Datadog by 24.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 38,651 shares of the company’s stock valued at $3,431,000 after buying an additional 7,499 shares in the last quarter. Finally, Xponance Inc. grew its position in shares of Datadog by 3.7% in the third quarter. Xponance Inc. now owns 31,530 shares of the company’s stock valued at $2,799,000 after purchasing an additional 1,129 shares during the last quarter. Institutional investors and hedge funds own 71.98% of the company’s stock.
Datadog Stock Down 4.1 %
The firm’s 50-day moving average price is $93.48 and its 200 day moving average price is $101.11. The firm has a market capitalization of $26.93 billion, a price-to-earnings ratio of 8,883.88 and a beta of 1.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.31 and a quick ratio of 3.31.
Datadog (NASDAQ:DDOG – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. Datadog had a net margin of 0.48% and a return on equity of 2.24%. The firm had revenue of $406.14 million for the quarter, compared to analyst estimates of $381.28 million. During the same quarter last year, the business earned ($0.02) earnings per share. Datadog’s revenue was up 73.9% compared to the same quarter last year. Sell-side analysts expect that Datadog, Inc. will post -0.15 EPS for the current year.
Datadog Company Profile
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company’s SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.