Datadog, Inc. (DDOG:NSD) is currently receiving a “Strong Buy” rating from 31 analysts, according to Stock Target Advisor Ratings. Of those analysts, six have given Datadog stock a hold recommendation, while 21 have issued a buy recommendation. The brokers who have updated their coverage on DDOG within the last year have an average one-year target price of $110.70.
Datadog Stock-Analyst Ratings:
The company has been the subject of several recent research reports, with varying recommendations from analysts. Wedbush began covering Datadog stock with an “outperform” rating and a $101.00 price objective.
Citigroup raised its price target on the stock from $90.00 to $96.00 and gave it a “buy” rating. Cantor Fitzgerald initiated coverage of the company with an “overweight” rating and a $95.00 price target.
Needham & Company LLC also raised their price target on Datadog, from $90.00 to $105.00, and gave Datadog stock a “buy” rating. Canaccord Genuity Group, on the other hand, lowered their price target on the stock from $110.00 to $100.00 but maintained a “buy” rating.
Two executives at Datadog have sold shares in the company recently. On Thursday, March 2nd, CRO Sean Michael Walters sold 15,195 shares at an average price of $73.69, resulting in a total transaction value of $1,119,719.55. Following the sale, Walters owns 141,774 shares valued at $10,447,326.06.
Additionally, CEO Olivier Pomel sold 85,637 shares of the company’s stock on Thursday, January 26th, at an average price of $73.98 per share, for a total transaction value of $6,335,425.26. Following this sale, Pomel owns 243,282 shares valued at $17,998,002.36.
Overall, insiders have sold 562,140 shares of Datadog’s stock in the last 90 days, worth $41,618,118. These insider transactions represent 15.80% of the Datadog stock.
Hedge Funds & Institutional Holdings:
Several hedge funds have recently bought and sold shares of Datadog. Cigna Investments Inc. New increased its position by 4.9% during the third quarter, and now owns 2,898 shares worth $258,000.
Public Employees Retirement Association of Colorado grew its position by 0.3% during the fourth quarter, and now owns 44,217 shares worth $3,250,000.
Albert D Mason Inc. grew its position by 5.1% during the third quarter, and now owns 3,262 shares worth $290,000.
E Fund Management Co. Ltd. increased its position by 6.0% during the third quarter and now owns 2,866 shares worth $254,000.
UMB Bank n.a. grew its position by 26.3% during the third quarter, and now owns 792 shares worth $70,000.
In total, institutional investors own 70.93% of Datadog’s stock.
Datadog Stock Price Analysis:
On Friday, shares of DDOG opened at $69.21. The stock has a 50-day moving average of $75.05 and a 200-day moving average of $79.69. Datadog’s market cap is $22.14 billion, with a price-to-earnings ratio of -432.56 and a beta of 0.99.
The company has a current ratio and quick ratio of 3.09, an all-time high of $131.20. The company’s stock has been performing well, with a 2.5% increase in trading on the day of this report.
Looking ahead, Datadog stock is well-positioned to continue its growth trajectory as companies increasingly rely on cloud-based solutions for their IT needs. With a strong market position, solid financials, and a commitment to innovation, the company is poised for long-term success.