Datadog (NASDAQ:DDOG) Price Target Lowered to $120.00 at UBS Group

Datadog (NASDAQ:DDOG) had its price objective cut by UBS Group from $164.00 to $120.00 in a research report released on Tuesday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

DDOG has been the topic of a number of other research reports. Wolfe Research cut shares of Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Cantor Fitzgerald initiated coverage on shares of Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective for the company. Rosenblatt Securities lifted their target price on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Truist Financial dropped their price target on Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research note on Monday, March 31st. Finally, Barclays cut their price target on Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.41.

Datadog Stock Up 0.7 %

Shares of Datadog stock opened at $92.55 on Tuesday. Datadog has a 52-week low of $81.63 and a 52-week high of $170.08. The company has a 50 day moving average of $109.98 and a 200 day moving average of $128.77. The company has a market capitalization of $31.72 billion, a P/E ratio of 181.47, a P/E/G ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, research analysts anticipate that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the sale, the executive now directly owns 185,871 shares in the company, valued at $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the transaction, the chief executive officer now directly owns 563,598 shares in the company, valued at approximately $49,219,013.34. This represents a 16.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 548,756 shares of company stock valued at $62,219,250. Company insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several hedge funds have recently modified their holdings of DDOG. Fifth Third Bancorp grew its position in Datadog by 21.0% in the first quarter. Fifth Third Bancorp now owns 13,622 shares of the company’s stock valued at $1,351,000 after acquiring an additional 2,367 shares in the last quarter. USA Financial Formulas grew its holdings in Datadog by 49.9% during the 1st quarter. USA Financial Formulas now owns 12,747 shares of the company’s stock valued at $1,265,000 after purchasing an additional 4,243 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Datadog by 341.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,569,341 shares of the company’s stock worth $155,694,000 after buying an additional 1,213,475 shares during the period. Handelsbanken Fonder AB lifted its holdings in Datadog by 2.1% in the 1st quarter. Handelsbanken Fonder AB now owns 83,151 shares of the company’s stock worth $8,249,000 after buying an additional 1,725 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Datadog by 3,533.4% in the 1st quarter. SG Americas Securities LLC now owns 667,537 shares of the company’s stock valued at $66,226,000 after buying an additional 649,165 shares during the last quarter. 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.