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

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating restated by equities researchers at William Blair in a research note issued to investors on Wednesday, TipRanks reports.

DDOG has been the subject of several other reports. Morgan Stanley began coverage on Datadog in a research report on Monday, October 14th. They set an “equal weight” rating and a $39.00 price objective for the company. Raymond James began coverage on Datadog in a research report on Monday, October 14th. They set a “market perform” rating for the company. JPMorgan Chase & Co. began 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. Jefferies Financial Group increased their price target on Datadog from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday. They noted that the move was a valuation call. Finally, 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 target for the company. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $41.67.

NASDAQ DDOG traded down $0.74 on Wednesday, reaching $40.63. The company had a trading volume of 2,117,200 shares, compared to its average volume of 2,124,547. The company has a 50 day moving average of $33.80. Datadog has a 52 week low of $27.55 and a 52 week high of $42.96.

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

A number of large investors have recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC bought a new stake in Datadog in the third quarter valued at approximately $28,600,000. Dean Capital Investments Management LLC bought a new stake in Datadog in the third quarter valued at approximately $542,000. Massachusetts Financial Services Co. MA bought a new stake in Datadog in the third quarter valued at approximately $383,000. SG Americas Securities LLC bought a new stake in Datadog in the third quarter valued at approximately $196,000. Finally, Zweig DiMenna Associates LLC bought a new stake in Datadog in the third quarter valued at approximately $1,916,000. Hedge funds and other institutional investors 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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