Macquarie Cuts Datadog (NASDAQ:DDOG) Price Target to $140.00

Datadog (NASDAQ:DDOG) had its target price reduced by Macquarie from $175.00 to $140.00 in a report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

DDOG has been the topic of a number of other research reports. Needham & Company LLC lowered their price objective on Datadog from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday. Canaccord Genuity Group lowered their price target on shares of Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday. Stifel Nicolaus cut shares of Datadog from a “buy” rating to a “hold” rating and cut their price objective for the stock from $165.00 to $140.00 in a research report on Wednesday, January 29th. DA Davidson boosted their target price on shares of Datadog from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, May 5th. Finally, Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.54.

Datadog Stock Performance

Shares of DDOG stock opened at $107.88 on Wednesday. Datadog has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The stock’s fifty day moving average is $100.20 and its two-hundred day moving average is $125.81. The firm has a market capitalization of $36.98 billion, a P/E ratio of 211.53, a PEG ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. Datadog’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. On average, equities analysts forecast that Datadog will post 0.34 earnings per share for the current year.

Insider Transactions at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the sale, the chief technology officer now directly owns 371,865 shares of the company’s stock, valued at $37,986,009.75. The trade was a 25.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $114.21, for a total value of $2,855,250.00. Following the sale, the director now directly owns 82,324 shares in the company, valued at $9,402,224.04. This trade represents a 23.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 559,867 shares of company stock valued at $57,550,902. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Datadog by 40.3% in the fourth quarter. GAMMA Investing LLC now owns 790 shares of the company’s stock valued at $113,000 after acquiring an additional 227 shares in the last quarter. Nordea Investment Management AB grew its stake in Datadog by 21.2% during the 4th quarter. Nordea Investment Management AB now owns 58,256 shares of the company’s stock worth $8,376,000 after buying an additional 10,199 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Datadog by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,883 shares of the company’s stock worth $1,698,000 after buying an additional 137 shares during the period. Green Alpha Advisors LLC lifted its stake in Datadog by 18.3% in the fourth quarter. Green Alpha Advisors LLC now owns 3,301 shares of the company’s stock valued at $472,000 after buying an additional 511 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in shares of Datadog in the fourth quarter valued at approximately $43,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.