Datadog (NASDAQ:DDOG) Price Target Cut to $120.00 by Analysts at Truist Financial

Datadog (NASDAQ:DDOG - Free Report) had its price objective decreased by Truist Financial from $140.00 to $120.00 in a research report sent to investors on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other research firms have also recently weighed in on DDOG. Wells Fargo & Company cut Datadog from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. Macquarie reiterated an "outperform" rating and issued a $200.00 price objective on shares of Datadog in a report on Tuesday, February 11th. JMP Securities reissued a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Loop Capital lifted their price objective on shares of Datadog from $160.00 to $200.00 and gave the company a "buy" rating in a report on Monday, December 23rd. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $157.22.

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Datadog Trading Down 7.1 %

Datadog stock traded down $7.24 during midday trading on Monday, hitting $94.47. 5,707,968 shares of the stock were exchanged, compared to its average volume of 4,207,662. The stock's 50-day simple moving average is $121.49 and its 200 day simple moving average is $130.62. Datadog has a fifty-two week low of $93.23 and a fifty-two week high of $170.08. The stock has a market capitalization of $32.38 billion, a price-to-earnings ratio of 185.24, a PEG ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG - Get Free Report) last announced 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%. Equities analysts anticipate that Datadog will post 0.34 EPS for the current fiscal year.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the company's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the sale, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This represents a 28.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the sale, the director now owns 427,785 shares of the company's stock, valued at approximately $60,796,804.20. This represents a 1.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 601,412 shares of company stock valued at $75,444,584. 11.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Datadog

Institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its stake in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company's stock valued at $28,000 after purchasing an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in Datadog in the 4th quarter valued at $30,000. Avior Wealth Management LLC increased its stake in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after buying an additional 81 shares during the period. Putney Financial Group LLC purchased a new position in Datadog during the fourth quarter worth about $32,000. Finally, Quarry LP purchased a new position in shares of Datadog during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 78.29% of the company's stock.

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.