Datadog price target lowered to $80 from $90 at Stifel

Stifel analyst Brad Reback lowered the firm’s price target on Datadog (DDOG) to $80 from $90 and keeps a Buy rating on the shares. After Amazon Web Services’ (AMZN) earnings, Stifel is updating its model on Datadog to reflect the company’s most recent usage commentary. History has shown Datadog has grown approximately 2.2x AWS’ growth in a given quarter, leading Stifel to conclude Q1 revenue growth should be about 35%, which is higher than management’s 29% guidance. However, the company’s outage in early March will likely slightly cut into the company’s Q1 results.