DA Davidson raised the firm’s price target on Datadog (DDOG) to $180 from $170 and keeps a Buy rating on the shares. The firm’s cites proprietary developer datasets showing positive usage growth to finish the quarter and signs of potential acceleration, the analyst tells investors in a research note. The firm is also incrementally positive on Datadog’s ability to capture future growth in Observability specifically due to its AI product road map as instances of AI powered automation are on the rise as the process of observability is slowly shifting more towards agents.
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