Kingsley Crane, an analyst from Canaccord Genuity, maintained the Buy rating on Datadog (DDOG – Research Report). The associated price target remains the same with $145.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Kingsley Crane has given his Buy rating due to a combination of factors that highlight Datadog’s strategic direction and product innovation. The company is transitioning from a traditional monitoring platform to an AI-native operational system, which aligns with the growing enterprise focus on AI and agent-driven infrastructures. This strategic shift is seen as a positive move, as it aims to simplify operations rather than add complexity, a key factor in succeeding in the AI era.
Datadog’s recent product announcements, such as the launch of Bits AI autonomous agents and the preview of GPU Monitoring, demonstrate its commitment to addressing critical AI infrastructure needs. These innovations position Datadog as an active AI operator and align with current CIO priorities, enhancing its ability to capture value in the AI space. Additionally, the company’s focus on GPU-centric strategies is seen as crucial for future growth, as it addresses the increasing compute demands of AI-driven workloads. With a strong financial profile and a reasonable valuation, Datadog is viewed as a core holding, justifying the Buy rating.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $128.00 price target.
DDOG’s price has also changed moderately for the past six months – from $156.730 to $122.680, which is a -21.73% drop .
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue