Mizuho downgraded Datadog to Neutral from Buy with a price target of $108, up from $98. The analyst says the company “defied many skeptics” with a much better than expected Q3 report. While Datadog “may be on more solid footing, ” competition has gotten a little tighter, and it would be premature to assume further progression over the next few quarters, the analyst tells investors in a research note. The firm also believes the stock’s risk/reward has become balanced.
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Read More on DDOG:
- Datadog price target raised to $100 from $95 at Wells Fargo
- Datadog price target raised to $118 from $104 at Barclays
- Datadog downgraded to Neutral from Buy at Mizuho
- Datadog price target raised to $125 from $114 at Goldman Sachs
- JPMorgan upgrades Datadog, advises ‘patient, opportunistic accumulation’