Why Datadog Stock Jumped Today
Shares of (NASDAQ: DDOG) have risen about 7.2% as of 2:30 p.m. ET on Wednesday. The move follows a fresh analyst initiation from Wells Fargo analysts, who assigned an overweight rating and a $190 price target to the software company, framing Datadog as a key beneficiary as artificial intelligence (AI)-native start-ups and traditional enterprises ramp up their cloud workloads.
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Wells Fargo analysts Ryan MacWilliams and Chris Brazeau initiated coverage of Datadog with a $190 12-month price target, representing about 25% upside from where the stock is trading at the time of this writing. The analysts highlighted accelerating adoption of AI tools across software stacks -- a backdrop that tends to increase the value of unified monitoring, logging, and security. That positioning aligns with Datadog's strength in offering a unified platform that monitors applications, infrastructure, logs, and security all in one place -- giving developers and information technology workers a single view of performance across massive cloud environments.
Source Fool.com
Datadog Inc. Stock
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the Datadog Inc. stock is not clear.
With a target price of 175 € there is a slightly positive potential of 9.92% for Datadog Inc. compared to the current price of 159.2 €.
