Datadog price target raised to $120 from $110 at Truist

Truist raised the firm’s price target on Datadog to $120 from $110 and keeps a Buy rating on the shares. Coming off its Q2 guide-down, Datadog appeared to find their footing in Q3, delivering a strong beat and raise while signaling confidence heading into the end of the year, the analyst tells investors in a research note. The moderation that the management called out in optimization trends was also a sign for optimism that Datadog may have navigated the worst of the spending rationalization trends, the firm added.