Grand News Network | November 8, 2023

Datadog's Q3 Earnings Success Sparks Analyst Optimism, Hints At Bullish Tech Market Recovery

Shares of Datadog Inc (NASDAQ: DDOG) were retracing on Wednesday, after spiking around 30% in the previous trading session on upbeat third-quarter results.

The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.

Truist Securities On Datadog

Analyst Joel Fishbein maintained a Buy rating, which raised the price target from $110 to $120.

Datadog seems to have found “their footing in Q3, delivering a strong beat and raise, signaling confidence heading into the end of the year,” Fishbein said in a note.

The quarter reflected moderation in optimization trends, which is a sign that the company “may have navigated the worst of the spending rationalization trends,” the analyst stated. "Though headwinds remain, we are constructive about the opportunity for incremental growth from their core offering, new products, and developing customer verticals that we believe could drive upside to expectations going forward," he added.

RBC Capital Markets On Datadog

Analyst Matthew ...

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