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

Oppenheimer analyst Ittai Kidron raised the firm’s price target on Datadog to $120 from $105 and keeps an Outperform rating on the shares. The firm is positive on Datadog and believes it can deliver a strong beat to conservatively set targets. The company continues to see solid new logo growth and success in upselling existing customers, Oppenheimer adds. Further, it is positive on the expansion into Cloud and Application Security and believes the company has a long-tailed growth opportunity ahead. Coupled with continued FCFM expansion, Oppenheimer sees an improving story and views Datadog as a core long-term holding.