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Rosenblatt boosted Datadog shares target, retains buy on strong growth

Rosenblatt boosted Datadog shares target, retains buy on strong growth
Analyst Bio:

On Thursday, Rosenblatt analyst Blair Abernethy increased the stock price target for Datadog (NASDAQ:DDOG), a cloud-based monitoring and analytics platform, to $148 from $140 while maintaining a Buy rating on the stock. The adjustment follows Datadog's reported revenue growth of 26% in the third quarter, which was around 4% above the firm's estimates and contributed to robust operating margins.

Datadog's performance was bolstered by a notable rise in customers adopting AI-native applications, which accounted for 6% of the company's Annual Recurring Revenue (ARR) in Q3, up from 2.5% in the same period last year. The analyst believes that the core growth drivers for Datadog remain strong, including the continued adoption of its platform and new tools by existing customers.

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