CIBC upgraded Datadog (DDOG) to Outperformer from Neutral with a price target of $240, up from $170. Datadog showed a “durable and credible acceleration” in growth, operating profit and free cash flow in Q3, says the analyst, who also notes the company removed the large AI native customer attrition risk by signing this customer, thought to be Open AI, to a standard contract extension on terms of better economics and higher commitment. While insourcing and optimization questions will be worth watching, the risk is “greatly reduced and now manageable,” the analyst tells investors.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DDOG:
- Datadog price target raised to $217 from $150 at Scotiabank
- Datadog, Trade Desk upgraded: Wall Street’s top analyst calls
- Datadog price target raised to $225 from $165 at Goldman Sachs
- Datadog price target raised to $215 from $170 at Mizuho
- Datadog price target raised to $220 from $179 at Cantor Fitzgerald