Datadog Stock Surges on Bullish Analyst Update
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BTCCSquare news:
Datadog shares climbed over 4% Monday, outpacing the broader market's modest gains, after BMO Capital analyst Keith Bachman raised his price target to $154 from $130. The upgrade reflects a higher revenue multiple for the cloud monitoring platform, now valued at 14-15 times projected 2026 sales.
The bullish revision follows Datadog's strong Q2 performance in early August, where the company exceeded both quarterly estimates and full-year projections. While no new catalysts have emerged recently, investors continue rewarding the stock for its consistent execution in the competitive observability software sector.
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