Datadog downgraded to Neutral from Buy at BTIG

BTIG analyst Gray Powell downgraded Datadog to Neutral from Buy without a price target. The analyst continues to view Datadog as a "best in class player" in the observability space, but says field checks have worsened over the last few weeks. BTIG’s six contacts highlighted increasing headwinds in the space as customers look to optimize their cloud environments and rationalize expenditures with monitoring tools. The fir now sees a balanced risk/reward after reducing estimates for Datadog.