Datadog shares are trading lower after Wells Fargo upgraded the stock from Equal-Weight to Overweight and raised its price target from $130 to $150.
Portfolio Pulse from Benzinga Newsdesk
Datadog shares are trading lower despite Wells Fargo upgrading the stock from Equal-Weight to Overweight and increasing the price target from $130 to $150.
April 23, 2024 | 2:14 pm
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NEGATIVE IMPACT
Datadog's stock trades lower even after an upgrade to Overweight and a price target raise to $150 by Wells Fargo.
Typically, an upgrade by a major financial institution and a raised price target indicate positive sentiment and could lead to a stock price increase. However, the immediate trading response was negative, suggesting that other factors or market conditions may be influencing Datadog's stock price negatively in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100