Datadog price target lowered to $136 from $162 at BTIG

BTIG analyst Gray Powell lowered the firm’s price target on Datadog (DDOG) to $136 from $162 and keeps a Buy rating on the shares. While the company posted “strong” Q1 results, the forward outlook was more mixed with some moving parts as Datadog increased revenue guidance for 2025 but guided operating income about 4.5% lower, the analyst tells investors in a research note. The firm, which believes that Datadog is better positioned for a broader economic slowdown today than it was in 2022, said that if things play out reasonably well, Datadog could end up growing revenue at closer to a 25% year-over-year pace this year versus guidance at 20%. BTIG added that it is taking down its price target on a more conservative multiple assumption.