William Blair Reiterates Buy Rating for Datadog (NASDAQ:DDOG)

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William Blair reissued their buy rating on shares of Datadog (NASDAQ:DDOG) in a research note published on Wednesday morning, TipRanks reports.

A number of other analysts have also commented on the company. Needham & Company LLC lifted their price objective on Datadog from $45.00 to $48.00 and gave the stock a buy rating in a research report on Wednesday. Royal Bank of Canada initiated coverage on Datadog in a research report on Monday, October 14th. They set a sector perform rating and a $39.00 target price for the company. Morgan Stanley initiated coverage on Datadog in a research report on Monday, October 14th. They set an equal weight rating and a $39.00 target price for the company. Credit Suisse Group initiated coverage on Datadog in a research report on Wednesday, November 6th. They set a neutral rating and a $40.00 target price for the company. They noted that the move was a valuation call. Finally, JMP Securities initiated coverage on Datadog in a research report on Monday, October 14th. They set a market perform rating for the company. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Datadog currently has an average rating of Hold and an average target price of $41.67.

Shares of NASDAQ DDOG traded down $0.74 during midday trading on Wednesday, reaching $40.63. 2,117,200 shares of the company traded hands, compared to its average volume of 2,124,547. The business’s 50-day moving average price is $33.80. Datadog has a 12 month low of $27.55 and a 12 month high of $42.96.

In other Datadog news, insider Amit Agarwal acquired 25,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were acquired at an average price of $27.00 per share, for a total transaction of $675,000.00. Also, CFO David M. Obstler acquired 15,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were acquired at an average price of $27.00 per share, for a total transaction of $405,000.00. Insiders have bought a total of 571,280 shares of company stock valued at $15,271,460 over the last 90 days.

Large investors have recently added to or reduced their stakes in the company. Segantii Capital Management Ltd bought a new position in shares of Datadog during the 3rd quarter valued at about $1,187,000. FNY Investment Advisers LLC bought a new position in shares of Datadog during the 3rd quarter valued at about $161,000. Index Venture Associates VI Ltd bought a new position in shares of Datadog during the 3rd quarter valued at about $1,363,311,000. Zweig DiMenna Associates LLC bought a new position in shares of Datadog during the 3rd quarter valued at about $1,916,000. Finally, Pelham Capital Ltd. bought a new position in shares of Datadog during the 3rd quarter valued at about $2,543,000. Institutional investors and hedge funds own 14.24% of the company’s stock.

Datadog Company Profile

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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Analyst Recommendations for Datadog (NASDAQ:DDOG)

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