These 10 Stocks Were Wednesday’s Worst Performers

8. DataDog Inc. (NASDAQ:DDOG)

DataDog saw its share prices drop by 4.06 percent on Wednesday to close at $145.72 each after investment bank Stifel downgraded its rating on the stock from “buy” to “hold,” saying that the company is expected to face new margin pressures. Stifel also cuts its price target for DataDog by 15 percent to $140 from the $165 previously.

DataDog has been serving up encouraging sales growth, with revenues rising as much as 26 percent year-on-year to $690 million in the third quarter of the year. However, Stifel believed that the potential downside risks are coming in its quarterly reports this year amid margin pressures.

DataDog is expected to release its earnings results for the fourth quarter of the year on February 13, with a guidance of $709 million to $713 million for the full year 2024.