Morgan Stanley Reaffirms Equal Weight Rating for Datadog (NASDAQ:DDOG)

Datadog (NASDAQ:DDOG)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Morgan Stanley in a note issued to investors on Thursday,Benzinga reports. They presently have a $143.00 price target on the stock. Morgan Stanley’s price target indicates a potential upside of 1.45% from the company’s current price.

A number of other analysts have also recently weighed in on DDOG. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, November 7th. Citigroup lifted their price objective on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Scotiabank cut their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada lifted their target price on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Barclays increased their price target on shares of Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.97.

Datadog Stock Performance

Shares of DDOG opened at $140.95 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 50-day simple moving average of $145.36 and a 200-day simple moving average of $128.42. The company has a market capitalization of $47.88 billion, a price-to-earnings ratio of 265.95, a price-to-earnings-growth ratio of 19.82 and a beta of 1.14.

Insider Transactions at Datadog

In other news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the completion of the sale, the director now directly owns 195,667 shares in the company, valued at $27,612,527.04. The trade was a 11.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 609,763 shares of company stock valued at $87,543,649 over the last three months. 11.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Datadog

Hedge funds and other institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC grew its holdings in Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after buying an additional 24,574 shares during the period. Heritage Investors Management Corp purchased a new stake in Datadog in the third quarter valued at approximately $1,157,000. Atom Investors LP acquired a new position in Datadog during the third quarter worth approximately $1,112,000. Jennison Associates LLC raised its stake in Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after purchasing an additional 126,613 shares during the period. Finally, Parnassus Investments LLC grew its stake in shares of Datadog by 28.4% during the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after buying an additional 40,952 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.