Monness Crespi upgraded Datadog to Neutral from Sell. Following the sharp decline in the stock over the past month and the “panic selling that ensued on Monday,” the firm is raising its rating on Datadog to Neutral, adding that “the market is once again treating software stocks generously after quarterly reports, even those posting the most mediocre of prints.” Longer-run, the firm believes Datadog is well positioned to benefit from the cloud and support of generative AI complexities, but it still views the valuation as “rich” and believes “the darkest days of this economic quagmire are ahead of us,” the analyst added.
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