Datadog (DDOG) PT Raised to $54 at Needham & Company; Sees Good Q4
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Needham & Company analyst Jack Andrews raised the price target on Datadog (NASDAQ: DDOG) to $54.00 (from $48.00) while maintaining a Buy rating, saying they expect a good Q4.
The analyst commented, "DDOG will issue 4Q19 results on Thursday, February 13th after the market close and will host a conference call at 5:00pm EST. We detect that DDOG has begun to charge for its newer products previously released to beta; we expect results could benefit from a period of pent-up demand as it begins to charge for these products after a free-trial period (a dynamic seen with Synthetics in 3Q19). As a result, we are slightly raising our FY20 estimates for both revenue and EPS. We anticipate the competitive landscape to remain favorable as other public companies reported strong metrics and noted displacement of open-source solutions within logging. We continue to believe DDOG delivers a strong combination of product/market fit that should enable it to execute well. We reiterate our BUY rating and raise our PT to $54."
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