Barclays analyst Raimo Lenschow lowered the firm’s price target on Datadog to $83 from $98 and keeps an Overweight rating on the shares. Valuation levels are "still interesting" for U.S. software in 2023, but estimates remain "seemingly too high" given the macro headwinds, Lenschow tells investors in a research note. As such, he believes the first half of the year will remain difficult for software, but sees "hope" for the second half "as numbers don’t seem to have significant downside."
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on DDOG:
- Oppenheimer highlights Datadog as a top pick for 2023
- ‘Long-Term Investors Will Be Rewarded’: Oppenheimer Suggests 3 Stocks to Buy
- Wedbush starts Datadog at Outperform, sees ‘long runway for growth’
- Datadog initiated with an Outperform at Wedbush
- Street Wrap: Today’s Top 15 Upgrades, Downgrades, Initiations