The stock of Datadog, Inc. (NASDAQ:DDOG) is now priced at $82.98 and the shares are -0.56 points down or -0.67% lower compared to its previous closing price of $83.54. The stock had 4.285 million contracts set over the past session. DDOG shares’ daily volume is compared to its average trading volume at 4.479 million shares. However, it has a float of 185 million and although its performance was -3.65% over the week, it’s one to watch. Analysts have given the DDOG stock a yearly average price target of $93.75 per share. It means the stock’s upside potential is 12.98% with the DDOG share price recently placing at $81.53 to $86.25. However, some brokerage firms have priced the stock below the average, including one that has called $80.
The shorts are climbing into the Datadog, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the DDOG shares have risen. Short interest in the stock represents just 7.52% of its float, but the volume has raised by 741286. The volume of shorted shares rised to 13.891 million from 13.15 million shares over the last two weeks. The average intraday trading volume has been 6.594 million shares, which means that days to cover moved to roughly 2.106476.
Looking at current readings, Datadog, Inc.’s two-week RSI is 46.09. This suggests that the stock is neutral at the moment and that DDOG shares’ price movement remains stable. The stochastic readings are equally revealing at 67.03% meaning the DDOG share price is currently in neutral territory.
The technical chart shows that the DDOG stock will likely settle at between $85.64 and $88.31 per share. However, if the stock dips below $80.92, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $78.87.
Currently, the stock is trading in the red of MACD, with a reading of -0.04. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Needham though raised target price of DDOG stock from $105 to $106 but maintained Buy recommendation in their August 07 review. FBN Securities analysts see the stock as a Outperform with a target price of $115 in a flash note released to investors on July 10 initiating covering the stock. Rosenblatt analysts see the stock as Buy. Nonetheless, the analysts revised the share prices down on July 07, placing it at $115 from $75.
The average rating for the DDOG equity is 2.35 and is currently gathering a bullish momentum. Of 16 analysts tracking Datadog, Inc. polled by Reuters, 8 rated DDOG as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (8) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the DDOG stock price is 556.91X ahead of its 12-month Consensus earnings per share estimates.