On July 9, Datadog rose 3.03% in regular trading, trading at $267.6 USD/share, with turnover of $215 million. The stock bucked broader weakness in the Application Software sector, where peers Palantir Technologies fell 4.52%, Salesforce dropped 2.87%, and AppLovin declined 0.53%.
On the news front, Rothschild & Co Redburn significantly raised its price target on Datadog from $169.96 to $310, representing the largest single adjustment among a wave of recent institutional upgrades. The new target sits well above the FactSet consensus mean of $249. This follows a series of bullish calls, including Benchmark raising its target to $330, Arete to $340, and Truist Securities upgrading to Buy with a $300 target. The sustained institutional optimism reflects confidence in Datadog's AI-driven growth strategy, bolstered by its recent acquisition of Adaptive ML and the rollout of over 100 new capabilities at its DASH technical conference.
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