Datadog initiated with a Neutral at CIBC on OpenAI uncertainty

As previously reported, CIBC initiated coverage of Datadog (DDOG) with a Neutral rating and $170 price target Datadog is “an excellent company” whose position as the leader in observability provides continued opportunity to gain market share, the analyst tells investors. However, to reconsider the firm’s Neutral rating, the analyst would like a resolution by its large AI-native customer, thought to be OpenAI, which is reported to be considering insourcing its observability requirements, including hiring an internal development team.