As previously reported, Oppenheimer analyst Ittai Kidron upgraded Datadog to Outperform from Perform with a $105 price target. The company’s unified, real-time view into the entire technology stack remains mission-critical to developers/enterprises as they focus on identifying/eliminating performance issues, the analyst argues. While not recession-proof, the mission-critical nature of its solutions gives Datadog relative resiliency in times of spending constraints, he adds. Kidron also notes that the company has also expanded into security, capitalizing on "shift-left" efforts in security and its strong standing with developers, offering large TAM expansion and a long tail of growth. The analyst views Datadog as a core long-term holding.
Published first on TheFly
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