Datadog (NASDAQ:DDOG) Stock Price Expected to Rise, Loop Capital Analyst Says

Datadog (NASDAQ:DDOG) had its target price boosted by stock analysts at Loop Capital from $160.00 to $200.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price objective would suggest a potential upside of 33.82% from the company’s current price.

Several other brokerages also recently commented on DDOG. TD Cowen reissued a “buy” rating and set a $165.00 price objective on shares of Datadog in a research report on Tuesday, November 19th. Macquarie started coverage on shares of Datadog in a report on Thursday, December 12th. They set an “outperform” rating and a $200.00 price target on the stock. Scotiabank decreased their price objective 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. Stifel Nicolaus increased their target price on Datadog from $141.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, BMO Capital Markets boosted their price target on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and a consensus price target of $157.04.

Datadog Trading Up 1.7 %

Shares of NASDAQ:DDOG opened at $149.46 on Monday. Datadog has a 12-month low of $98.80 and a 12-month high of $170.08. The stock 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. The stock has a fifty day simple moving average of $139.29 and a two-hundred day simple moving average of $125.23.

Insiders Place Their Bets

In other Datadog news, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the transaction, the director now owns 459,449 shares of the company’s stock, valued at approximately $55,143,068.98. This trade represents a 3.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 transaction, the president now directly owns 214,275 shares in the company, valued at approximately $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 740,588 shares of company stock valued at $101,329,606 over the last three months. 11.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SouthState Corp bought a new stake in Datadog during the second quarter valued at about $26,000. True Wealth Design LLC lifted its position in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings 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 buying an additional 115 shares in the last quarter. Quarry LP purchased a new position in shares of Datadog in the 3rd quarter worth approximately $33,000. Finally, American National Bank & Trust bought a new position in shares of Datadog during the 3rd quarter worth approximately $39,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.