Datadog price target raised to $120 from $105 at Jefferies

Jefferies analyst Brent Thill raised the firm’s price target on Datadog to $120 from $105 and keeps a Buy rating on the shares post the Q3 report. The company reported “strong results against low expectations,” with a 5% revenue beat and a 2023 revenue guidance raise that was two-times the size of the beat, the analyst tells investors in a research note. The firm says Datadog’s usage trends improved in Q3 versus Q2, and October trends were stronger than they’ve been for the past year.