Datadog (DDOG) PT Lowered to $135 at Scotiabank

Scotiabank analyst Pat Colville lowered the price target on Datadog (NASDAQ: DDOG) to $135.00 (from $145.00) while maintaining a Sector Outperform rating.

The analyst commented: "Datadog delivered a clean print in 2Q, beating across key metrics and raising 2024 guidance. Investor expectations had softened for Datadog heading into the print given mixed results from the hyperscalers and rumors of the company exploring an acquisition of Gitlab. Management today definitively calling out no plans for large-scale M&A should remove the overhang on shares. We have conviction on the Datadog story and quantitatively analyze 2024 Street estimates to be very achievable. We continue to see Datadog as a clean way to play the themes of digital transformation, DevOps, and observability consolidation. Reiterate Sector Outperform."

You May Also Be Interested In

• Take-Two Interactive (TTWO) PT Raised to $368 at BofA Securities
• Allegiant Travel Company (ALGT) PT Raised to $103 at UBS
• Cytokinetics (CYTK) PT Raised to $118 at Mizuho