Datadog Poised To Exceed Expectations Over Long-Term, Says Piper Sandler Analyst
Portfolio Pulse from Lekha Gupta
Piper Sandler analyst Rob D. Owens has upgraded Datadog Inc (NASDAQ:DDOG) to Overweight from Neutral rating, increasing the price target to $115 from $88. The analyst sees signs of stabilizing infrastructure and DevOps software demand, along with incremental opportunities related to security and AI. The company's acceleration in security products and lowered FY23 guidance are seen as potential upside opportunities.
October 02, 2023 | 5:22 pm
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Datadog has been upgraded to Overweight from Neutral by Piper Sandler, with a raised price target of $115. The company's potential in security and AI, along with its lowered FY23 guidance, are seen as future growth opportunities.
The upgrade by Piper Sandler, along with the raised price target, indicates a positive outlook for Datadog. The analyst's belief in the company's potential in security and AI, as well as the lowered FY23 guidance, suggest potential for future growth, which could positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100