Datadog price target raised to $170 from $155 at Truist

Truist raised the firm’s price target on Datadog (DDOG) to $170 from $155 and keeps a Buy rating on the shares as part of a broader research note on Infrastructure Software. Datadog is poised to be the leader in the observability market by leveraging their cloud native architecture and strong foothold with their best-in-class infrastructure monitoring tools, and while the stock’s valuation is not cheap, shares are more attractive when viewed on a growth-adjusted basis, the analyst tells investors in a research note. Truist adds that it sees a long tail of durable growth for the company based on their ability to both grow existing use cases and cross sell new modules.