Datadog price target lowered to $100 from $105 at RBC Capital

RBC Capital analyst Matthew Hedberg lowered the firm’s price target on Datadog to $100 from $105 but keeps an Outperform rating on the shares ahead of its Q4 results. The company’s pipeline and solid start to Q4 should carry it over a "prudent" year-end guide due to slowing hyperscaler growth, the analyst tells investors in a research note. The firm adds however that as macro trends stabilize, Datadog’s growth can accelerate, and it believes that DDOG represents a "good" stock pick for the second half of 2023.