Monness analyst Brian White maintained a Buy rating on Datadog today and set a price target of $160.00.
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Brian White has given his Buy rating due to a combination of factors that highlight Datadog’s strong position in the cloud computing sector and its growth potential. The company is expected to benefit from the ongoing cloud trend, with its revenue and earnings per share projections for the upcoming quarters aligning with or exceeding market expectations. Datadog’s ability to capitalize on opportunities in the generative AI landscape further strengthens its growth prospects.
Additionally, Datadog’s momentum with AI-native customers and its strategic expansions through organic innovations and acquisitions, such as the potential acquisition of Upwind, enhance its product offerings and security capabilities. These developments, coupled with a steady increase in revenue and operating income forecasts, underpin the positive outlook for Datadog’s stock, justifying the Buy rating.
In another report released on July 28, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $171.00 price target.
Based on the recent corporate insider activity of 142 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DDOG in relation to earlier this year.