Datadog (NASDAQ:DDOG) Shares Gap Down to $39.60

Datadog (NASDAQ:DDOG)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $41.62, but opened at $39.60. Datadog shares last traded at $37.77, with a volume of 2,119,758 shares traded.

DDOG has been the subject of several research analyst reports. Oppenheimer initiated coverage on shares of Datadog in a research note on Thursday, November 21st. They set a “market perform” rating for the company. JMP Securities began coverage on shares of Datadog in a research note on Monday, October 14th. They issued a “market perform” rating on the stock. Jefferies Financial Group increased their price objective on shares of Datadog from $34.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. They noted that the move was a valuation call. Goldman Sachs Group began coverage on Datadog in a research report on Monday, October 14th. They set a “neutral” rating and a $33.00 price objective for the company. Finally, Credit Suisse Group assumed coverage on Datadog in a report on Wednesday, November 6th. They issued a “neutral” rating and a $40.00 target price on the stock. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Datadog currently has a consensus rating of “Hold” and an average target price of $40.89.

The stock has a 50-day simple moving average of $36.17. The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 0.07.

In related news, CFO David M. Obstler bought 15,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was purchased at an average price of $27.00 per share, for a total transaction of $405,000.00. Also, major shareholder Iconiq Strategic Partners Ii, bought 525,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was bought at an average price of $27.00 per share, with a total value of $14,175,000.00. Insiders have acquired 571,280 shares of company stock valued at $15,271,460 in the last quarter.

Large investors have recently added to or reduced their stakes in the stock. Index Venture Associates VI Ltd bought a new stake in shares of Datadog in the 3rd quarter worth about $1,363,311,000. ICONIQ Capital LLC bought a new stake in Datadog in the third quarter worth about $1,040,051,000. TimesSquare Capital Management LLC bought a new stake in Datadog in the third quarter worth about $28,600,000. Eventide Asset Management LLC purchased a new position in shares of Datadog during the third quarter valued at approximately $10,173,000. Finally, Zimmer Partners LP purchased a new position in shares of Datadog during the third quarter valued at approximately $3,391,000. Institutional investors own 33.70% of the company’s stock.

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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