Datadog (NASDAQ:DDOG) Given Buy Rating at TD Cowen

TD Cowen reissued their buy rating on shares of Datadog (NASDAQ:DDOG) in a research report sent to investors on Tuesday,Benzinga reports. TD Cowen currently has a $165.00 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research report on Monday, July 22nd. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, November 7th. BMO Capital Markets raised their price objective on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Finally, Rosenblatt Securities lifted their price target on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Stock Performance

Shares of NASDAQ:DDOG opened at $133.41 on Tuesday. Datadog has a 52-week low of $98.80 and a 52-week high of $138.61. The company has a market capitalization of $45.32 billion, a P/E ratio of 251.72, a price-to-earnings-growth ratio of 18.85 and a beta of 1.10. The company has a 50-day simple moving average of $122.10 and a 200 day simple moving average of $119.50.

Insider Activity

In other news, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the completion of the sale, the executive now directly owns 183,512 shares of the company’s stock, valued at $22,939,000. The trade was a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the sale, the chief executive officer now directly owns 392,111 shares of the company’s stock, valued at approximately $48,076,729.71. The trade was a 17.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 470,579 shares of company stock worth $59,291,041. Company insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several hedge funds and other institutional investors have recently made changes to their positions in DDOG. SouthState Corp bought a new stake in shares of Datadog during the second quarter worth about $26,000. True Wealth Design LLC increased its position in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares in the last quarter. Meeder Asset Management Inc. grew its position in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Quarry LP bought a new stake in Datadog in the 3rd quarter worth about $33,000. Finally, Blue Trust Inc. bought a new stake in Datadog in the 2nd quarter worth about $37,000. 78.29% of the stock is owned by institutional investors.

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.