DA Davidson raised the firm’s price target on Datadog (DDOG) to $180 from $170 and keeps a Buy rating on the shares. The firm’s cites proprietary developer datasets showing positive usage growth to finish the quarter and signs of potential acceleration, the analyst tells investors in a research note. The firm is also incrementally positive on Datadog’s ability to capture future growth in Observability specifically due to its AI product road map as instances of AI powered automation are on the rise as the process of observability is slowly shifting more towards agents.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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 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
- ‘AI Stays in Charge’: UBS Suggests 2 AI-Driven Stocks to Buy