Datadog price target raised to $220 from $179 at Cantor Fitzgerald

Cantor Fitzgerald analyst Thomas Blakey raised the firm’s price target on Datadog (DDOG) to $220 from $179 and keeps an Overweight rating on the shares following the Q3 earnings report. Cantor continues to believe Datadog is the leading observability and monitoring company well positioned to benefit from secular growth trends in digital transformation, cloud migrations, and AI evidenced by customers expanding consumption and product usage across Datadog’s platform in Q3 driving market share gains and sustainable profitable growth, the analyst tells investors in a research note.