Datadog upgraded to Buy from Neutral at Monness Crespi

Monness Crespi upgraded Datadog (DDOG) to Buy from Neutral with a $155 price target after the company reported upside Q3 results, issued “a healthy” Q4 outlook, and finetuned its 2024 guidance. After “surviving software’s nuclear winter in 2024,” Datadog’s stock has underperformed and the stock’s valuation is “more palatable,” says the analyst, who believes the company is well positioned to enjoy incremental activity from long-term secular trends over the next 12-18 months.