Datadog price target raised to $155 from $145 at Jefferies

Jefferies raised the firm’s price target on Datadog to $155 from $145 and keeps a Buy rating on the shares. Datadog reported strong results, with revenue beating by 4% and operating margin 6% ahead of the Street, the analyst tells investors in a research note. The firm views the initial calendar year 2024 outlook as prudent given management’s remarks on the intensity of optimizations dissipating and usage trends improving.