Datadog (NASDAQ:DDOG) rose 3% during trading on Thursday after Credit Suisse Group raised their price target on the stock from $40.00 to $45.00. Credit Suisse Group currently has a neutral rating on the stock. Datadog traded as high as $41.92 and last traded at $41.39, approximately 80,709 shares were traded during trading. A decline of 95% from the average daily volume of 1,550,335 shares. The stock had previously closed at $40.19.
Other equities research analysts also recently issued reports about the stock. Barclays lifted their price target on shares of Datadog from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday. JMP Securities initiated coverage on shares of Datadog in a report on Monday, October 14th. They set a “market perform” rating for the company. Goldman Sachs Group initiated coverage on shares of Datadog in a report on Monday, October 14th. They set a “neutral” rating and a $33.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Datadog from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group lifted their price target on shares of Datadog from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $41.67.
In related news, major shareholder Iconiq Strategic Partners Ii, bought 525,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average cost of $27.00 per share, for a total transaction of $14,175,000.00. Also, CFO David M. Obstler bought 15,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average price of $27.00 per share, with a total value of $405,000.00. Over the last 90 days, insiders purchased 571,280 shares of company stock valued at $15,271,460.
The stock has a 50 day moving average of $33.80.
Datadog Company Profile (NASDAQ:DDOG)
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.
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