Datadog (NASDAQ:DDOG) Price Target Cut to $120.00 by Analysts at UBS Group

Datadog (NASDAQ:DDOG - Get Free Report) had its price objective cut by equities researchers at UBS Group from $164.00 to $120.00 in a report issued on Tuesday, MarketBeat reports. The firm currently has a "buy" rating on the stock. UBS Group's target price suggests a potential upside of 31.79% from the company's previous close.

Several other research firms have also commented on DDOG. Loop Capital upped their price target 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. Macquarie reiterated an "outperform" rating and set a $200.00 price target on shares of Datadog in a research note on Tuesday, February 11th. Guggenheim reiterated a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. Rosenblatt Securities upped their price target on Datadog from $148.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $135.00 target price (down from $150.00) on shares of Datadog in a report on Monday, April 7th. Seven investment 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. According to MarketBeat.com, the company currently has a consensus 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 on Tuesday, hitting $91.06. 3,472,961 shares of the company traded hands, compared to its average volume of 4,337,484. The company has a market cap of $31.21 billion, a PE ratio of 178.54, a PEG 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 52 week low of $81.63 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly 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 net margin of 6.85% and a return on equity of 8.28%. As a group, sell-side analysts anticipate that Datadog will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 563,598 shares of the company's stock, valued at $49,219,013.34. This trade represents a 16.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total transaction of $3,486,750.00. Following the completion of the transaction, the director now owns 195,667 shares in the company, valued at $27,289,676.49. This represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 548,756 shares of company stock valued at $62,219,250 over the last quarter. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

A number of large investors have recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in Datadog in the fourth quarter valued at approximately $30,000. Avior Wealth Management LLC increased its holdings in shares of 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 acquiring an additional 81 shares during the period. Putney Financial Group LLC purchased a new stake in Datadog in the 4th quarter valued at $32,000. Elequin Capital LP acquired a new stake in Datadog during the 4th quarter worth $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in Datadog during the 1st quarter worth $37,000. 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.