Datadog stock rises on analyst upgrade, AI demand

Datadog Inc shares climbed 6.1% in morning trading Wednesday, reaching $272.07, following a series of analyst upgrades led by Bernstein SocGen Group.

Bernstein analyst Peter Weed upgraded the stock to Outperform and raised his price target to $350. The firm said rapid AI workload growth is driving demand for cloud infrastructure monitoring tools. Alternative data shows a 50% quarter-over-quarter increase in token consumption by large AI labs.

The stock had fallen approximately 14% over the prior week from its 52-week high of $300.68 before the upgrade.

Mizuho raised its price target to $330 from $300, while Barclays lifted its target to $300 from $290. RBC Capital raised its target to $320 from $280, and CIBC boosted its target to $315 from $280. All firms maintained positive ratings ahead of the company's Q3 earnings report.

Institutional asset manager Robeco purchased 290,066 shares of Datadog on Wednesday. Rep. Jonathan Jackson purchased between $50,001 and $100,000 in Datadog shares in late September through a Morgan Stanley trust account, according to a congressional disclosure.

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