Datadog price target raised to $170 from $128 at Barclays

Barclays analyst Raimo Lenschow raised the firm’s price target on Datadog (DDOG) to $170 from $128 and keeps an Overweight rating on the shares. The firm likes the setup for on-cycle reporting software names into Q2 earnings. After initial uncertainty in April, channel checks for May and especially June were much stronger, the analyst tells investors in a research note. As a result, Barclays expects solid Q2 prints and the chance to guidance increases.