Loop Capital raised the firm’s price target on Datadog to $160 from $120 and keeps a Buy rating on the shares. The company’s revenue growth accelerated for the first time in 8 quarters, its y/y revenue growth showed acceleration, the analyst tells investors in a research note. Datadog also saw solid billings quarter, which has shown 30% y/y growth over the past 3 quarters, and its sequential annual recurring revenue, ARR, adds in the quarter increased y/y for the first time in 6 quarters, the firm added.
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