Bernstein raised the firm’s price target on Datadog (DDOG) to $152 from $137 and keeps an Outperform rating on the shares following quarterly results. The firm believes that Datadog’s Q4 $589.6MM print seems to have validated the worry that AWS’ (AMZN) AI component won’t fully read through immediately. Add to that its guide for just under 0% quarter-over-quarter to Q1 2024 and full-year 20.6% year-over-year growth, it appears that management isn’t layering in a strong expectation to start the year, Bernstein adds.
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