Stifel Nicolaus Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG - Get Free Report) had its price objective increased by investment analysts at Stifel Nicolaus from $141.00 to $165.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price objective points to a potential upside of 9.85% from the stock's previous close.

A number of other brokerages have also recently issued reports on DDOG. Truist Financial lifted their price objective on shares of Datadog from $155.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, December 12th. BNP Paribas started coverage on shares of Datadog in a research report on Tuesday, October 8th. They issued an "outperform" rating and a $150.00 price target on the stock. Mizuho boosted their price objective on Datadog from $155.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Macquarie initiated coverage on Datadog in a report on Thursday, December 12th. They issued an "outperform" rating and a $200.00 target price on the stock. Finally, Robert W. Baird upped their price target on Datadog from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.56.

Datadog Trading Down 4.3 %

Shares of DDOG traded down $6.71 during trading hours on Wednesday, reaching $150.20. The stock had a trading volume of 4,316,459 shares, compared to its average volume of 4,036,199. The firm has a 50-day simple moving average of $138.56 and a 200 day simple moving average of $124.68. Datadog has a 12 month low of $98.80 and a 12 month high of $170.08. The company has a market capitalization of $51.03 billion, a price-to-earnings ratio of 283.40, a P/E/G ratio of 20.27 and a beta of 1.11.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the transaction, the chief executive officer now owns 392,111 shares of the company's stock, valued at $48,076,729.71. This represents a 17.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Kerry Acocella sold 2,452 shares of the company's stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.06, for a total value of $294,387.12. Following the completion of the transaction, the general counsel now owns 74,421 shares of the company's stock, valued at $8,934,985.26. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 721,362 shares of company stock valued at $98,373,993. 11.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Datadog

Several institutional investors and hedge funds have recently made changes to their positions in DDOG. Blue Trust Inc. purchased a new position in shares of Datadog in the second quarter worth about $37,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Datadog during the second quarter valued at approximately $443,000. Fifth Third Bancorp boosted its stake in shares of Datadog by 11.4% during the second quarter. Fifth Third Bancorp now owns 2,110 shares of the company's stock valued at $274,000 after purchasing an additional 216 shares during the period. Atria Wealth Solutions Inc. grew its holdings in shares of Datadog by 1.5% in the second quarter. Atria Wealth Solutions Inc. now owns 12,049 shares of the company's stock worth $1,563,000 after purchasing an additional 179 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Datadog by 2.1% in the second quarter. Louisiana State Employees Retirement System now owns 24,500 shares of the company's stock worth $3,177,000 after buying an additional 500 shares during the period. 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.