Mizuho Issues Positive Forecast for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG - Get Free Report) had its price target upped by research analysts at Mizuho from $155.00 to $170.00 in a report released on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's target price would indicate a potential upside of 11.09% from the company's previous close.

DDOG has been the subject of several other reports. Citigroup lifted their price objective on shares of Datadog from $150.00 to $157.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Macquarie initiated coverage on shares of Datadog in a report on Thursday. They issued an "outperform" rating and a $200.00 price target on the stock. UBS Group reaffirmed an "underperform" rating on shares of Datadog in a research report on Friday, October 18th. Robert W. Baird upped their target price on Datadog from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Barclays boosted their price target on Datadog from $155.00 to $187.00 and gave the company an "overweight" rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $155.07.

Datadog Price Performance

NASDAQ:DDOG traded down $3.70 during trading hours on Friday, hitting $153.03. 4,405,987 shares of the company were exchanged, compared to its average volume of 4,038,818. Datadog has a 52-week low of $98.80 and a 52-week high of $170.08. The stock has a market capitalization of $51.99 billion, a price-to-earnings ratio of 289.85, a PEG ratio of 20.27 and a beta of 1.11. The company's 50 day moving average price is $136.12 and its 200-day moving average price is $123.67.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 178,723 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the completion of the transaction, the chief technology officer now directly owns 336,165 shares in the company, valued at $43,476,219.45. This trade represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 713,446 shares of company stock valued at $97,145,034. Company insiders own 11.78% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its position in Datadog by 15.6% in the second quarter. Sequoia Financial Advisors LLC now owns 2,467 shares of the company's stock worth $320,000 after acquiring an additional 333 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Datadog during the 2nd quarter worth about $43,000. Swedbank AB increased its holdings in shares of Datadog by 2.6% during the 2nd quarter. Swedbank AB now owns 107,229 shares of the company's stock valued at $13,907,000 after acquiring an additional 2,759 shares during the last quarter. Blue Trust Inc. bought a new position in shares of Datadog in the 2nd quarter valued at approximately $37,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Datadog by 7.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 878,882 shares of the company's stock worth $113,982,000 after purchasing an additional 57,911 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

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.