On June 1, Datadog rose 3.99% in regular trading, trading at $257.96/share, with trading volume of $484 million. The move was driven by multiple Wall Street investment banks raising their target prices on the stock in recent sessions.
Cantor Fitzgerald raised its target price from $171 to $226, a more than 32% increase, while maintaining an Outperform rating. Bank of America Securities raised its target from $225 to $260. RBC Capital Markets lifted its target from $219 to $250 following a meeting with management, stating that AI-driven infrastructure modernization represents Datadog's largest long-term opportunity and that the company continues to gain market share as customers consolidate around its platform. According to FactSet, analysts have an average Buy rating with a mean target price of approximately $226.84. Additionally, peer Snowflake's upward revision to its annual product revenue guidance has injected further optimism into the broader cloud computing sector.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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