Bernstein raised the firm’s price target on Datadog (DDOG) to $170 from $147 and keeps an Outperform rating on the shares. The firm says that ever the last few weeks, it watched Datadog rally after a mid-summer pullback. In many ways, Bernstein is not surprised, as multiple signals suggest the second half of the year might actually see nice acceleration in base revenue ex-AI. Add to that market sentiment that the worst case OpenAI churn scenario seems unlikely in the near term and there are reasons to turn optimistic, the firm adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DDOG:
- Datadog price target raised to $180 from $170 at DA Davidson
- Datadog initiated with an Overweight at Wells Fargo
- DA Davidson technology analysts hold an analyst/industry conference call
- Datadog Expands Board, Appoints Ami Vora as Director
- Caterpillar, GameStop, ServiceNow, AmEx, Datadog Insider Sales Shock Market