Evercore ISI raised the firm’s price target on Datadog (DDOG) to $215 from $170 and keeps an Outperform rating on the shares. The company delivered “strong” Q3 results highlighted by revenue of $886M, in line with 28% growth in the prior quarter and significantly ahead of management guidance and consensus estimates, the analyst tells investors in a research note. The firm noted that Q4 revenue guidance was above Street estimates, though the firm also believes this still includes some conservatism as the guide implies NRR of roughly 115% even as Q3 NRR was 120%.
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Read More on DDOG:
- Datadog upgraded to Neutral from Sell at Guggenheim
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- Datadog price target raised to $205 from $135 at Stifel
- Datadog price target raised to $220 from $190 at Jefferies
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