Datadog price target lowered to $130 from $152 at BMO Capital

BMO Capital lowered the firm’s price target on Datadog (DDOG) to $130 from $152 and keeps an Outperform rating on the shares. The company reported a “mostly solid” March quarter, highlighted by a roughly 3% beat to the firm’s and Wall Street’s consensus estimates and strong AI Native contribution to ARR, the analyst tells investors in a research note. The firm added that, consistent with its past writings, demand metrics have greater stock/multiple impact than margin and, given the weaker macro backdrop and compressed software valuations, it is lowering its price target