Jefferies raised the firm’s price target on Datadog to $145 from $140 and keeps a Buy rating on the shares. The firm sees upside to numbers as Datadog faces its easiest comp of the year. Jefferies’ field work and CIO survey support an improving backdrop with abating optimization headwinds and accelerating IT budgets. Based on backlog growth acceleration to 54% year-over-year in Q3, the firm sees upside to 2024 growth estimates in the low 20s.
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