Datadog (NASDAQ:DDOG) Reaches New 12-Month Low - What's Next?

Shares of Datadog, Inc. (NASDAQ:DDOG - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $81.63 and last traded at $82.64, with a volume of 1228228 shares changing hands. The stock had previously closed at $87.93.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on Datadog from $187.00 to $180.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Mizuho lifted their price target on Datadog from $155.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Royal Bank of Canada raised their target price on shares of Datadog from $151.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Wolfe Research cut shares of Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 target price on shares of Datadog in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $156.67.

Datadog Stock Down 1.2 %

The firm has a market cap of $31.54 billion, a PE ratio of 180.43, a P/E/G ratio of 44.03 and a beta of 1.20. The firm has a 50 day moving average of $113.16 and a 200 day moving average of $129.24.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (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%. On average, research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, CEO Olivier Pomel sold 11,195 shares of Datadog stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the completion of the sale, the chief executive officer now owns 379,693 shares in the company, valued at $53,103,862.98. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the transaction, the director now owns 427,785 shares in the company, valued at approximately $60,796,804.20. This represents a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 556,672 shares of company stock worth $63,344,272 over the last ninety days. Corporate insiders own 11.78% of the company's stock.

Institutional Inflows and Outflows

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