Datadog price target raised to $305 from $160 at Stifel

Stifel raised the firm’s price target on Datadog (DDOG) to $305 from $160 and keeps a Buy rating on the shares. The company posted another strong quarter sending the stock roughly 30% higher earlier in the session, as core revenue growth once again accelerated quarter-on-quarter driven by sequential usage growth, the analyst tells investors in a research note. The firm added that, overall, Q1 results highlight the sustained success of previous S&M and R&D investments both within the core and AI-native cohort as Datadog continues to differentiate in a rapidly evolving Observability market.