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.
Image source: Getty Images.
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
The community is currently still undecided about Datadog Inc. with 1 Buy predictions and 0 Sell predictions.
As a result the target price of 175 € shows a positive potential of 31.94% compared to the current price of 132.64 € for Datadog Inc..
