Bernstein lowered the firm’s price target on Datadog (DDOG) to $145 from $151 and keeps an Outperform rating on the shares. The firm says Datadog’s Q1 earnings delivered a “normal” level of beat at +$23M vs. guidance – similar to levels seen in first half of 2024. Most impressive was the growth from “Born-in-AI” companies, rising to 8.5% of revenue, nearly the entire beat this quarter. In addition, the company pointed to net new customer bookings up 70% year-over-year. Together, these helped support a strong raise in Q2 guidance, while the company stayed conservative and held second half of the year guidance flat, Bernstein adds.
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