Datadog (NASDAQ:DDOG) Price Target Cut to $115.00 by Analysts at Morgan Stanley

Datadog (NASDAQ:DDOG - Get Free Report) had its price objective dropped by equities research analysts at Morgan Stanley from $143.00 to $115.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 26.30% from the stock's current price.

DDOG has been the topic of several other research reports. Wells Fargo & Company cut Datadog from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. JMP Securities reissued a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Rosenblatt Securities lifted their price objective on Datadog from $148.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Guggenheim reiterated a "neutral" rating on shares of Datadog in a report on Wednesday, January 22nd. Finally, Loop Capital raised their target price on shares of Datadog from $160.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.37.

Datadog Stock Performance

NASDAQ DDOG traded down $0.82 during trading on Wednesday, hitting $91.06. The stock had a trading volume of 3,472,961 shares, compared to its average volume of 4,337,484. The stock has a market capitalization of $31.21 billion, a price-to-earnings 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 $106.75 and a 200 day simple moving average of $128.19. Datadog has a one year low of $81.63 and a one year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, sell-side analysts predict that Datadog will post 0.34 EPS for the current year.

Insider Buying and Selling

In related news, 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 completion of the transaction, the executive now owns 185,871 shares in the company, valued at $18,966,276.84. The trade was a 4.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $87.33, for a total value of $9,376,185.45. Following the transaction, the chief executive officer now owns 563,598 shares in the company, valued at $49,219,013.34. This represents a 16.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 548,756 shares of company stock valued at $62,219,250 over the last ninety days. Company 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 DDOG. Proficio Capital Partners LLC purchased a new stake in shares of Datadog during the fourth quarter worth about $14,884,000. ARK Investment Management LLC increased its stake in Datadog by 62.7% during the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock worth $18,188,000 after buying an additional 49,050 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of Datadog by 140.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock valued at $7,590,000 after acquiring an additional 30,998 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after acquiring an additional 1,484,562 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in shares of Datadog by 3.5% during the fourth quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company's stock worth $10,358,000 after purchasing an additional 2,451 shares in the last quarter. 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.