Datadog (NASDAQ:DDOG) Given New $133.00 Price Target at Scotiabank

Datadog (NASDAQ:DDOG) had its target price reduced by Scotiabank from $135.00 to $133.00 in a report issued on Friday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

DDOG has been the topic of a number of other reports. Evercore ISI started coverage on shares of Datadog in a research note on Monday, July 15th. They issued an “outperform” rating and a $150.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $151.00 target price on shares of Datadog in a research note on Friday, August 9th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a research report on Thursday, August 1st. Needham & Company LLC reduced their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price target on shares of Datadog in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Datadog Stock Down 4.1 %

Shares of NASDAQ DDOG traded down $5.34 during trading on Friday, hitting $124.45. The company had a trading volume of 5,904,912 shares, compared to its average volume of 3,125,492. The firm has a market capitalization of $41.96 billion, a price-to-earnings ratio of 276.56, a price-to-earnings-growth ratio of 23.44 and a beta of 1.10. The stock has a fifty day simple moving average of $119.67 and a two-hundred day simple moving average of $119.58. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $138.61.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business’s revenue was up 26.7% compared to the same quarter last year. On average, analysts anticipate that Datadog will post 0.42 earnings per share for the current year.

Insider Transactions at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total value of $1,002,719.72. Following the completion of the sale, the director now owns 451,533 shares in the company, valued at $57,195,685.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Shardul Shah sold 7,916 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the completion of the sale, the director now directly owns 451,533 shares of the company’s stock, valued at $57,195,685.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David M. Obstler sold 33,333 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $130.39, for a total transaction of $4,346,289.87. Following the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $40,963,061.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 444,291 shares of company stock worth $54,154,859. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SouthState Corp acquired a new stake in Datadog in the second quarter valued at $26,000. Meeder Asset Management Inc. raised its holdings in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. Blue Trust Inc. acquired a new stake in shares of Datadog during the second quarter valued at $37,000. Versant Capital Management Inc boosted its stake in shares of Datadog by 216.5% during the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after purchasing an additional 210 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after buying an additional 127 shares in the last quarter. 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.