BTIG analyst Gray Powell lowered the firm’s price target on Datadog (DDOG) to $93 from $104 but keeps a Buy rating on the shares as part of a broader research note on Security & Infrastructure Software in 2023. The analyst is citing "softening checks" from his last round in October and November in the company’s respective sectors and a more cautious macro view, adding that overall visibility on 2023 budgets across all of his sector coverage is currently low with anticipated muted spending environment in the first half of next year. CrowdStrike (CRWD), SentinelOne (S) and Okta (OKTA) are his top sector picks as estimates on all three of these names appear conservative, Powell adds.
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Published first on TheFly
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