CIBC upgraded Datadog (DDOG) to Outperformer from Neutral with a price target of $240, up from $170. Datadog showed a “durable and credible acceleration” in growth, operating profit and free cash flow in Q3, says the analyst, who also notes the company removed the large AI native customer attrition risk by signing this customer, thought to be Open AI, to a standard contract extension on terms of better economics and higher commitment. While insourcing and optimization questions will be worth watching, the risk is “greatly reduced and now manageable,” the analyst tells investors.
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