On February 6, 2023, Keybanc downgraded their outlook for Datadog, Inc. from Overweight to Sector Weight.

Analyst Price Forecast Suggests 44.78% Upside

As of February 6, 2023, the average one-year price target for Datadog, Inc. is $111.43. The forecasts range from a low of $76.76 to a high of $170.10. The average price target represents an increase of 44.78% from its latest reported closing price of $76.96. The projected annual revenue for Datadog, Inc. is $2,262MM, an increase of 47.66%. The projected annual EPS is $1.20.

What are large shareholders doing?

ICONIQ Capital holds 11,959,144 shares representing 3.77% ownership of the company. In its prior filing, the firm reported owning 14,168,957 shares, representing a decrease of 18.48%. The firm decreased its portfolio allocation in DDOG by 17.98% over the last quarter.

Price T Rowe Associates holds 9,056,244 shares representing 2.85% ownership of the company. In its prior filing, the firm reported owning 16,852,560 shares, representing a decrease of 86.09%. The firm decreased its portfolio allocation in DDOG by 71.05% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 7,808,504 shares representing 2.46% ownership of the company. In its prior filing, the firm reported owning 7,504,449 shares, representing an increase of 3.89%. The firm increased its portfolio allocation in DDOG by 1.11% over the last quarter.

Capital Research Global Investors holds 7,050,239 shares representing 2.22% ownership of the company. In its prior filing, the firm reported owning 4,700,651 shares, representing an increase of 33.33%. The firm increased its portfolio allocation in DDOG by 47.47% over the last quarter.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 6,023,442 shares representing 1.90% ownership of the company. In its prior filing, the firm reported owning 5,865,321 shares, representing an increase of 2.63%. The firm increased its portfolio allocation in DDOG by 0.09% over the last quarter.

Fund Sentiment

There are 1297 funds or institutions reporting positions in Datadog, Inc. This is an increase of 3 owner(s) or 0.23%. Average portfolio weight of all funds dedicated to US:DDOG is 0.5500%, a decrease of 8.6243%. Total shares owned by institutions decreased in the last three months by 1.23% to 263,315K shares.

Datadog Background Information
(This description is provided by the company.)

Datadog is the monitoring and security platform for cloud applications. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring and log management to provide unified, real-time observability of its customers’ entire technology stack. Datadog is used by organizations of all sizes and across a wide range of industries to enable digital transformation and cloud migration, drive collaboration among development, operations, security and business teams, accelerate time to market for applications, reduce time to problem resolution, secure applications and infrastructure, understand user behavior and track key business metrics.

This article originally appeared on Fintel

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