RBC Capital analyst Matthew Hedberg raised the firm’s price target on Datadog to $151 from $145 and keeps an Outperform rating on the shares. The company reported a strong quarter, with upside driven by improving usage trends, increasing consolidation opportunities, longer duration deals and strength up-market, the analyst tells investors in a research note. RBC also believes that the below-consensus Q1 guidance is a “conservative first take”, and that the quarter should provide another positive data point around overall consumption trends.
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