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

Datadog (NASDAQ:DDOG - Free Report) had its price target cut by Scotiabank from $155.00 to $125.00 in a report issued on Tuesday,Benzinga reports. They currently have a sector outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. DA Davidson dropped their price objective on Datadog from $165.00 to $115.00 and set a "buy" rating for the company in a research note on Monday. Jefferies Financial Group reissued a "buy" rating and issued a $135.00 price objective (down previously from $150.00) on shares of Datadog in a research note on Monday, April 7th. Citigroup cut their target price on shares of Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 price objective on shares of Datadog in a research report on Tuesday, March 4th. Finally, Macquarie reiterated an "outperform" rating and issued a $200.00 target price on shares of Datadog in a report on Tuesday, February 11th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $152.37.

Datadog Stock Down 0.9 %

Shares of NASDAQ DDOG traded down $0.82 during midday trading on Tuesday, 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 stock has a 50 day simple moving average of $107.84 and a 200-day simple moving average of $128.35. 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.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data 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%. As a group, analysts expect that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In related news, CEO Olivier Pomel sold 11,195 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $139.86, for a total value of $1,565,732.70. Following the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $53,103,862.98. This represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the sale, the chief technology officer now directly owns 324,778 shares of the company's stock, valued at $46,371,802.84. This represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 548,756 shares of company stock worth $62,219,250. Insiders own 11.78% of the company's stock.

Institutional Trading of Datadog

Several hedge funds have recently bought and sold shares of DDOG. Allworth Financial LP boosted its position in Datadog by 7.7% during 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 grew its position in Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company's stock valued at $65,000 after purchasing an additional 80 shares in the last quarter. Avior Wealth Management LLC lifted its position 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 in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of 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 buying an additional 92 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock valued at $95,000 after acquiring an additional 94 shares during the last quarter. 78.29% of the stock is currently 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.