Datadog (NASDAQ:DDOG) Stock Price Up 0.3% - What's Next?

Datadog, Inc. (NASDAQ:DDOG - Get Free Report)'s share price shot up 0.3% during trading on Wednesday . The stock traded as high as $88.47 and last traded at $87.24. 916,103 shares were traded during mid-day trading, a decline of 79% from the average session volume of 4,269,587 shares. The stock had previously closed at $87.00.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup reduced their target price on Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Wolfe Research downgraded shares of Datadog from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Royal Bank of Canada raised their price objective on Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Jefferies Financial Group reiterated a "buy" rating and issued a $135.00 target price (down from $150.00) on shares of Datadog in a report on Monday, April 7th. 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 note on Friday, February 14th. One investment 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $156.67.

Datadog Trading Down 1.2 %

The company's 50-day moving average is $112.08 and its 200 day moving average is $129.08. The stock has a market capitalization of $31.54 billion, a PE ratio of 180.43, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG - Get Free Report) last posted 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 return on equity of 8.28% and a net margin of 6.85%. Sell-side analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the sale, the director now owns 427,785 shares in the company, valued at $60,796,804.20. This represents a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Olivier Pomel sold 11,195 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the completion of the transaction, the chief executive officer now owns 379,693 shares in the company, valued at approximately $53,103,862.98. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 556,672 shares of company stock worth $63,344,272. 11.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Datadog

Several hedge funds have recently added to or reduced their stakes in the business. Retirement Wealth Solutions LLC acquired a new position in shares of Datadog in the 4th quarter valued at about $30,000. Avior Wealth Management LLC raised its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after acquiring an additional 81 shares in the last quarter. Putney Financial Group LLC acquired a new position in Datadog in the fourth quarter valued at approximately $32,000. Elequin Capital LP purchased a new stake in Datadog in the 4th quarter worth approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Datadog by 74.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock valued at $38,000 after purchasing an additional 162 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.