Datadog price target raised to $120 from $112 at Macquarie

Macquarie raised the firm’s price target on Datadog to $120 from $112 and keeps a Neutral rating on the shares. Datadog closed 2023 with strength as its Q4 results handily beat across the board, while 2024 was conservatively guided compared to consensus, the analyst tells investors in a research note. The firm added that cloud optimizations seem to have bottomed ad the company noted these headwinds appear to “have dissipated” amid strong Q4 bookings.