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

Datadog (NASDAQ:DDOG) had its price objective lowered by research analysts at Cantor Fitzgerald from $220.00 to $150.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 37.12% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Datadog from $190.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Daiwa Capital Markets started coverage on shares of Datadog in a research note on Tuesday, January 27th. They set a “buy” rating and a $190.00 price objective on the stock. Truist Financial lowered 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. Oppenheimer boosted their target price on Datadog from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, Jefferies Financial Group reduced their price target on Datadog from $220.00 to $180.00 and set a “buy” rating for the company in a report on Monday, January 5th. Thirty-five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.18.

Datadog Trading Up 2.5%

Shares of NASDAQ:DDOG traded up $2.67 during trading on Friday, reaching $109.40. 3,238,589 shares of the stock were exchanged, compared to its average volume of 5,888,552. The firm’s 50-day moving average price is $136.25 and its 200 day moving average price is $144.66. The firm has a market cap of $38.36 billion, a price-to-earnings ratio of 352.85, a price-to-earnings-growth ratio of 20.67 and a beta of 1.27. Datadog has a 12-month low of $81.63 and a 12-month high of $201.69. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.66 and a current ratio of 3.66.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, November 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.10. The business had revenue of $885.65 million for the quarter, compared to analyst estimates of $852.77 million. Datadog had a return on equity of 4.14% and a net margin of 3.32%.The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. On average, sell-side analysts anticipate that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 100,754 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $181.18, for a total transaction of $18,254,609.72. Following the completion of the sale, the chief executive officer owned 533,358 shares of the company’s stock, valued at approximately $96,633,802.44. This represents a 15.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 53,912 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $197.99, for a total transaction of $10,674,036.88. Following the transaction, the chief technology officer owned 395,661 shares of the company’s stock, valued at approximately $78,336,921.39. This represents a 11.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,028,945 shares of company stock worth $184,544,256 in the last 90 days. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Datadog

Several large investors have recently bought and sold shares of DDOG. Westside Investment Management Inc. lifted its holdings in shares of Datadog by 74.3% in the third quarter. Westside Investment Management Inc. now owns 176 shares of the company’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Rothschild Investment LLC grew its stake in shares of Datadog by 126.6% during 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. Tripletail Wealth Management LLC bought a new position in shares of Datadog in the 3rd quarter valued at $28,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Datadog by 315.2% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 191 shares of the company’s stock valued at $27,000 after acquiring an additional 145 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new stake in Datadog during the 3rd quarter worth $27,000. 78.29% of the stock is owned by institutional investors and hedge funds.

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.