Datadog (NASDAQ:DDOG) PT Raised to $36.00 at Jefferies Financial Group

Datadog (NASDAQ:DDOG) had its price objective boosted by Jefferies Financial Group from $34.00 to $36.00 in a research note released on Wednesday morning, The Fly reports. The brokerage currently has a hold rating on the stock. Jefferies Financial Group also issued estimates for Datadog’s Q4 2019 earnings at ($0.02) EPS, FY2019 earnings at ($0.12) EPS, Q1 2020 earnings at ($0.02) EPS, Q2 2020 earnings at ($0.02) EPS, Q3 2020 earnings at ($0.02) EPS, Q4 2020 earnings at ($0.02) EPS and FY2020 earnings at ($0.07) EPS. The analysts noted that the move was a valuation call.

DDOG has been the subject of several other reports. Credit Suisse Group assumed coverage on Datadog in a research report on Wednesday, November 6th. They set a neutral rating and a $40.00 price target for the company. They noted that the move was a valuation call. JMP Securities assumed coverage on Datadog in a research report on Monday, October 14th. They set a market perform rating for the company. JPMorgan Chase & Co. assumed coverage on Datadog in a research report on Monday, October 14th. They set an overweight rating and a $45.00 price target for the company. Raymond James assumed coverage on Datadog in a research report on Monday, October 14th. They set a market perform rating for the company. Finally, Barclays assumed coverage on Datadog in a research report on Monday, October 14th. They set an overweight rating and a $45.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $41.67.

Shares of DDOG traded down $0.74 during midday trading on Wednesday, reaching $40.63. 2,117,200 shares of the stock were exchanged, compared to its average volume of 2,124,547. The firm has a 50 day moving average price of $33.80. Datadog has a 52 week low of $27.55 and a 52 week high of $42.96.

In other Datadog news, CFO David M. Obstler acquired 15,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were bought at an average cost of $27.00 per share, with a total value of $405,000.00. Also, insider Amit Agarwal acquired 25,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was acquired at an average cost of $27.00 per share, for a total transaction of $675,000.00. Over the last quarter, insiders have purchased 571,280 shares of company stock valued at $15,271,460.

Institutional investors and hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new stake in Datadog in the third quarter valued at approximately $161,000. Price Wealth LLC acquired a new stake in Datadog in the third quarter valued at approximately $178,000. SG Americas Securities LLC acquired a new stake in Datadog in the third quarter valued at approximately $196,000. Massachusetts Financial Services Co. MA acquired a new stake in Datadog in the third quarter valued at approximately $383,000. Finally, Dean Capital Investments Management LLC acquired a new stake in Datadog in the third quarter valued at approximately $542,000. 14.24% of the stock is currently owned by institutional investors.

About Datadog

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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