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

Datadog (NASDAQ:DDOG - Free Report) had its target price upped by Loop Capital from $160.00 to $200.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently commented on DDOG. Robert W. Baird lifted their price objective on Datadog from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Wedbush raised shares of Datadog from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 17th. Rosenblatt Securities upped their price objective on shares of Datadog from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Citigroup lifted their target price on shares of Datadog from $150.00 to $157.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, Macquarie started coverage on Datadog in a research note on Thursday, December 12th. They set an "outperform" rating and a $200.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Datadog presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.04.

Datadog Price Performance

Datadog stock traded down $2.00 during mid-day trading on Monday, hitting $147.46. 2,906,486 shares of the company were exchanged, compared to its average volume of 4,053,311. Datadog has a 12-month low of $98.80 and a 12-month high of $170.08. The company has a market capitalization of $50.10 billion, a P/E ratio of 278.23, a PEG ratio of 20.27 and a beta of 1.11. The business's 50 day simple moving average is $139.29 and its two-hundred day simple moving average is $125.33.

Insider Activity

In related news, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the transaction, the chief executive officer now owns 379,693 shares of the company's stock, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the sale, the director now owns 459,449 shares in the company, valued at $55,143,068.98. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 740,588 shares of company stock worth $101,329,606 over the last 90 days. Company insiders own 11.78% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC lifted its position in shares of Datadog by 172.2% during the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company's stock worth $4,469,000 after purchasing an additional 24,574 shares during the last quarter. Heritage Investors Management Corp acquired a new stake in Datadog during the third quarter valued at approximately $1,157,000. Atom Investors LP bought a new position in Datadog during the 3rd quarter worth approximately $1,112,000. Jennison Associates LLC grew its position in shares of Datadog by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company's stock worth $721,811,000 after acquiring an additional 126,613 shares in the last quarter. Finally, Parnassus Investments LLC grew its position in shares of Datadog by 28.4% in the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company's stock worth $21,324,000 after acquiring an additional 40,952 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

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.