Datadog (NASDAQ:DDOG) Downgraded to "Peer Perform" Rating by Wolfe Research

Wolfe Research cut shares of Datadog (NASDAQ:DDOG - Free Report) from an outperform rating to a peer perform rating in a research report report published on Tuesday, Marketbeat Ratings reports.

Several other research analysts also recently issued reports on the company. Royal Bank of Canada lifted their price target on Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Stifel Nicolaus downgraded Datadog from a "buy" rating to a "hold" rating and cut their price target for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. Scotiabank dropped their price objective on Datadog from $135.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, November 8th. Needham & Company LLC reiterated a "buy" rating and set a $160.00 price objective on shares of Datadog in a research report on Friday, February 14th. Finally, Mizuho lifted their price objective on Datadog from $155.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $158.39.

Datadog Stock Performance

Datadog stock traded down $6.57 during midday trading on Tuesday, reaching $119.67. The company's stock had a trading volume of 6,980,028 shares, compared to its average volume of 6,008,824. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The stock's 50 day simple moving average is $142.18 and its 200 day simple moving average is $131.57. The firm has a market capitalization of $40.66 billion, a PE ratio of 234.66, a P/E/G ratio of 44.03 and a beta of 1.15.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) 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%. Equities analysts predict that Datadog will post 0.34 earnings per share for the current year.

Insider Transactions at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the transaction, the director now directly owns 435,701 shares of the company's stock, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of the transaction, the general counsel now directly owns 68,758 shares in the company, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 556,674 shares of company stock worth $82,904,025. 11.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Datadog

Institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC raised its position in shares of Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company's stock valued at $4,469,000 after purchasing an additional 24,574 shares in the last quarter. Heritage Investors Management Corp acquired a new position in shares of Datadog in the 3rd quarter valued at approximately $1,157,000. Baillie Gifford & Co. raised its position in shares of Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. Atom Investors LP acquired a new position in shares of Datadog in the 3rd quarter valued at approximately $1,112,000. Finally, Parnassus Investments LLC raised its position in shares of Datadog by 28.4% during the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company's stock valued at $21,324,000 after acquiring an additional 40,952 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

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.