Stifel analyst Brad Reback raised the firm’s price target on Datadog (DDOG) to $115 from $101 and keeps a Buy rating on the shares. Better than expected AWS results, coupled with Amazon’s (AMZN) commentary that cost optimizations are moderating and “many may be behind us in some of our large customers, and now we’re seeing more progression into new workloads”, along with healthy consumption commentary from Microsoft (MSFT), Confluent (CFLT) and JFrog (FROG), all point to Datadog “posting at least historical levels of quarterly upside,” the analyst tells investors.
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