Movement Alert|Datadog Rises 5.37% in Regular Trading, Morgan Stanley Upgrade of Peer Dynatrace Lifts Observability Sector

Market Focus09-03 21:34

On September 3, Datadog rose 5.37% in regular trading, trading at 214.55 USD/share, with turnover of approximately $108 million.

On the news front, Morgan Stanley upgraded peer Dynatrace from Equal-Weight to Overweight with a price target raised from $58 to $65, citing confidence in monetization opportunities within the observability space as AI investment enters its second phase. The upgrade triggered a broad rally across the observability sector, with Datadog benefiting from clear sector linkage effects.

Fundamentally, Datadog reported Q2 revenue of approximately $1.12 billion, up about 36% year-over-year and above market expectations. Non-GAAP EPS came in at $0.65, representing 41% year-over-year growth. The company also raised its Q3 and full-year guidance above consensus, projecting Q3 revenue of $1.135 billion to $1.145 billion versus the $1.11 billion estimate. Multiple analysts maintain Buy ratings on the stock, with Daiwa Securities recently raising its price target to $300 and the average analyst target standing near $287.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment