Datadog (NASDAQ:DDOG) Price Target Lowered to $150.00 at Cantor Fitzgerald

Datadog (NASDAQ:DDOG) had its price target cut by analysts at Cantor Fitzgerald from $220.00 to $150.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 37.12% from the stock’s current price.

Several other research firms also recently commented on DDOG. Citigroup decreased their target price on shares of Datadog from $200.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, January 16th. TD Cowen reiterated a “buy” rating on shares of Datadog in a research note on Wednesday, January 21st. Raymond James Financial increased their price target on Datadog from $170.00 to $205.00 in a research report on Thursday, November 6th. Truist Financial cut their price target on shares of Datadog from $195.00 to $140.00 and set a “hold” rating on the stock in a report on Wednesday, January 7th. Finally, Robert W. Baird boosted their target price on shares of Datadog from $165.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Thirty-five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $187.18.

Datadog Trading Up 2.5%

NASDAQ DDOG traded up $2.67 during trading hours on Friday, reaching $109.40. The company’s stock had a trading volume of 3,238,589 shares, compared to its average volume of 5,888,552. The firm has a fifty day simple moving average of $136.25 and a 200-day simple moving average of $144.66. 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 52 week low of $81.63 and a 52 week high of $201.69. The stock has a market cap of $38.36 billion, a P/E ratio of 352.85, a P/E/G ratio of 20.67 and a beta of 1.27.

Datadog (NASDAQ:DDOG) last posted 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. The company had revenue of $885.65 million during the quarter, compared to analysts’ expectations of $852.77 million. Datadog had a net margin of 3.32% and a return on equity of 4.14%. Datadog’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. Equities analysts forecast that Datadog will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, COO Adam Blitzer sold 8,023 shares of Datadog stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $154.61, for a total transaction of $1,240,436.03. Following the completion of the sale, the chief operating officer directly owned 165,197 shares of the company’s stock, valued at $25,541,108.17. The trade was a 4.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $137.93, for a total value of $1,544,126.35. Following the sale, the chief executive officer directly owned 518,133 shares in the company, valued at $71,466,084.69. This trade represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,028,945 shares of company stock valued at $184,544,256. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Datadog

Several institutional investors have recently modified their holdings of DDOG. Callan Family Office LLC grew its position in shares of Datadog by 145.6% in the second quarter. Callan Family Office LLC now owns 22,680 shares of the company’s stock valued at $3,047,000 after purchasing an additional 13,445 shares during the last quarter. PKO Investment Management Joint Stock Co acquired a new stake in shares of Datadog during the 3rd quarter worth about $1,709,000. Munro Partners acquired a new position in shares of Datadog in the third quarter valued at approximately $7,120,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Datadog by 37.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 109,233 shares of the company’s stock worth $15,555,000 after acquiring an additional 30,008 shares during the period. Finally, Hartford Investment Management Co. acquired a new position in Datadog in the 3rd quarter valued at $2,689,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

About Datadog

Datadog (NASDAQ: DDOG) is a cloud-based monitoring and observability platform that helps organizations monitor, troubleshoot and secure their applications and infrastructure at scale. Its software-as-a-service offering collects and analyzes metrics, traces and logs from servers, containers, cloud services and applications to provide real-time visibility into system performance and health. Datadog’s platform is widely used by engineering, operations and security teams to reduce downtime, accelerate incident response and improve application reliability.

The company’s product suite includes infrastructure monitoring, application performance monitoring (APM), log management, real user monitoring (RUM), synthetic monitoring and network performance monitoring, along with security-focused products such as security monitoring and cloud SIEM.