DA Davidson Has Lowered Expectations for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG - Get Free Report) had its target price reduced by research analysts at DA Davidson from $165.00 to $115.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. DA Davidson's price objective would suggest a potential upside of 26.30% from the company's previous close.

DDOG has been the subject of several other research reports. Wells Fargo & Company lowered shares of Datadog from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. Truist Financial lowered their target price on shares of Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 price target on shares of Datadog in a report on Tuesday, March 4th. Jefferies Financial Group reiterated a "buy" rating and set a $135.00 price target (down from $150.00) on shares of Datadog in a research note on Monday, April 7th. Finally, JMP Securities reiterated a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $152.37.

Datadog Stock Down 0.9 %

Shares of NASDAQ DDOG traded down $0.82 during midday trading on Monday, hitting $91.06. The stock had a trading volume of 3,472,961 shares, compared to its average volume of 4,337,484. Datadog has a 1 year low of $81.63 and a 1 year high of $170.08. The company has a market capitalization of $31.21 billion, a PE ratio of 178.54, a P/E/G ratio of 44.03 and a beta of 1.20. The stock has a 50 day simple moving average of $107.84 and a 200-day simple moving average of $128.35.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data 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 net margin of 6.85% and a return on equity of 8.28%. As a group, analysts expect that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction on Monday, April 7th. The stock was 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 of the company's stock, valued at approximately $49,219,013.34. This trade represents a 16.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now directly owns 185,871 shares in the company, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 548,756 shares of company stock worth $62,219,250 in the last three months. 11.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP grew its holdings in shares of Datadog by 7.7% in the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company's stock worth $146,000 after acquiring an additional 75 shares during the last quarter. Spire Wealth Management lifted its stake in Datadog by 21.4% during the fourth quarter. Spire Wealth Management now owns 453 shares of the company's stock valued at $65,000 after buying an additional 80 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after buying an additional 81 shares during the period. Farther Finance Advisors LLC boosted its position in Datadog by 5.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock worth $265,000 after acquiring an additional 92 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Datadog by 16.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock valued at $95,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds 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.