Datadog price target raised to $170 from $147 at Bernstein

Bernstein raised the firm’s price target on Datadog (DDOG) to $170 from $147 and keeps an Outperform rating on the shares. The firm says that ever the last few weeks, it watched Datadog rally after a mid-summer pullback. In many ways, Bernstein is not surprised, as multiple signals suggest the second half of the year might actually see nice acceleration in base revenue ex-AI. Add to that market sentiment that the worst case OpenAI churn scenario seems unlikely in the near term and there are reasons to turn optimistic, the firm adds.