Datadog (NASDAQ:DDOG) Price Target Cut to $210.00 by Analysts at Canaccord Genuity Group

Datadog (NASDAQ:DDOG) had its price target cut by analysts at Canaccord Genuity Group from $225.00 to $210.00 in a research report issued on Friday,MarketScreener reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 51.50% from the company’s previous close.

A number of other research analysts have also commented on DDOG. Cantor Fitzgerald boosted their price target on shares of Datadog from $179.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Oppenheimer increased their target price on shares of Datadog from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Arete Research upped their price target on Datadog from $230.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Cowen reissued a “buy” rating on shares of Datadog in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Datadog from $140.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Thirty-two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average price target of $207.58.

Datadog Stock Performance

Shares of DDOG opened at $138.61 on Friday. The firm has a market cap of $48.61 billion, a PE ratio of 447.13, a PEG ratio of 29.86 and a beta of 1.23. The stock’s fifty day moving average price is $161.30 and its two-hundred day moving average price is $145.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.66 and a quick ratio of 3.66. Datadog has a 1 year low of $81.63 and a 1 year high of $201.69.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.10. Datadog had a return on equity of 4.14% and a net margin of 3.32%.The company had revenue of $885.65 million during the quarter, compared to analyst estimates of $852.77 million. During the same quarter last year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. Datadog has set its FY 2025 guidance at 2.000-2.020 EPS and its Q4 2025 guidance at 0.54-0.56 EPS. On average, equities research analysts forecast that Datadog will post 0.34 EPS for the current year.

Insider Activity

In related news, Director Amit Agarwal sold 45,444 shares of Datadog stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $150.08, for a total value of $6,820,235.52. Following the completion of the sale, the director owned 1,640 shares of the company’s stock, valued at $246,131.20. The trade was a 96.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 100,754 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $181.18, for a total value of $18,254,609.72. Following the completion of the transaction, the chief executive officer directly owned 533,358 shares in the company, valued at $96,633,802.44. The trade was a 15.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,316,774 shares of company stock valued at $233,102,070. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently modified their holdings of DDOG. Rothschild Investment LLC lifted its position in Datadog by 126.6% in the third quarter. Rothschild Investment LLC now owns 179 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Physician Wealth Advisors Inc. raised its stake in Datadog by 315.2% in the third quarter. Physician Wealth Advisors Inc. now owns 191 shares of the company’s stock worth $27,000 after buying an additional 145 shares in the last quarter. Westside Investment Management Inc. lifted its holdings in Datadog by 74.3% during the third quarter. Westside Investment Management Inc. now owns 176 shares of the company’s stock worth $27,000 after buying an additional 75 shares during the period. JPL Wealth Management LLC purchased a new stake in Datadog during the third quarter worth $27,000. Finally, Tripletail Wealth Management LLC purchased a new position in shares of Datadog in the 3rd quarter valued at $28,000. 78.29% of the stock is owned by hedge funds and other 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.