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Datadog gets Street-high price target on secular trends

Jul. 07, 2020 12:36 PM ETDatadog, Inc. (DDOG) StockDDOGBy: Brandy Betz, SA News Editor9 Comments
  • Citing positive industry checks, Rosenblatt raises its Datadog (NASDAQ:DDOG) target from $76 to $115.
  • Analyst Yun Kim says the checks shows increasing large deal activity but notes there wasn't much change in the overall IT spending environment.
  • Datadog is driven by the secular trends of cloud migration and cloud-security initiatives, which should help the company outpace the industry, writes Kim.
  • The firm does expect "the disparity between high spending priority initiatives and lower priority ones" to become larger in H2 and "well into next year."
  • Datadog shares are up 2.1% to $90.78. The company has a Bullish average Wall St. Analysts rating.

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