Bernstein analyst Peter Weed raised the firm’s price target on Datadog (DDOG) to $180 from $170 and keeps an Outperform rating on the shares. The firm notes Datadog’s Q3 rode cloud consumption tailwinds to the strongest ex-AI revenue quarter-over-quarter growth since its COVID peak in 2021. In parallel, they announced signing their largest “Born-in-AI” customer to a larger committed contract — OpenAI, Bernstein believes, and the broader AI-customer cohort accelerated, reaching a new record of 12% of revenue. This helps address a large bear narrative that churn was possible for this customer who makes up the majority of “Born-in-AI” revenue, ads the firm.
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