Datadog price target lowered to $140 from $155 at Wedbush

Wedbush lowered the firm’s price target on Datadog (DDOG) to $140 from $155 to reflect a lower multiple, while keeping an Outperform rating on the shares. The firm notes the company reported its Q1 results featuring beats across the board, while raising its top-line guidance as the company is seeing elevated demand for its innovative platform approach with new and existing customers leveraging more products. This was a positive quarter to start the year as Datadog looks to continue accelerating momentum for its platform approach by providing mission-critical use cases for cloud migration and digital transformation projects especially with the wide adoption of AI, Wedbush says.