Datadog (NASDAQ:DDOG) Price Target Raised to $165.00

Datadog (NASDAQ:DDOG) had its price objective increased by Stifel Nicolaus from $141.00 to $165.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently weighed in on DDOG. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Barclays upped their target price on shares of Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. BMO Capital Markets increased their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Sanford C. Bernstein reduced their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.56.

Datadog Stock Up 1.7 %

Shares of Datadog stock opened at $149.46 on Wednesday. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The stock’s 50-day simple moving average is $139.29 and its 200-day simple moving average is $125.12. The company has a market capitalization of $50.77 billion, a price-to-earnings ratio of 282.01, a PEG ratio of 20.27 and a beta of 1.11.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 19,226 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $153.73, for a total value of $2,955,612.98. Following the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $58,370,204.89. This represents a 4.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Amit Agarwal sold 150,000 shares of Datadog stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the sale, the president now directly owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 740,588 shares of company stock worth $101,329,606 over the last quarter. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Hedge funds and other institutional investors have recently made changes to their positions in the company. Peapack Gladstone Financial Corp lifted its stake in Datadog by 39.9% in the third quarter. Peapack Gladstone Financial Corp now owns 5,140 shares of the company’s stock worth $591,000 after acquiring an additional 1,465 shares during the period. Tidal Investments LLC raised its holdings in shares of Datadog by 27.6% in the 3rd quarter. Tidal Investments LLC now owns 28,295 shares of the company’s stock valued at $3,256,000 after purchasing an additional 6,119 shares in the last quarter. Blankinship & Foster LLC purchased a new stake in shares of Datadog in the 3rd quarter worth approximately $351,000. Wilmington Savings Fund Society FSB bought a new position in shares of Datadog during the third quarter valued at approximately $625,000. Finally, Sanctuary Advisors LLC boosted its stake in shares of Datadog by 106.8% during the third quarter. Sanctuary Advisors LLC now owns 15,018 shares of the company’s stock valued at $1,728,000 after purchasing an additional 7,757 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.