Datadog (DDOG) reported improved Q1 earnings and revenue that beat analyst expectations as the company is seeing rising demand for "its innovative platform approach," Wedbush said in a Wednesday report.
The software company is witnessing "elevated demand" for its latest products and usage growth as customers increasingly leverage offerings for mission-critical use cases in cloud migration and digital transformation projects amid a "wide adoption" of artificial intelligence, according to the report.
Datadog raised its fiscal 2025 guidance as it accelerates its "go-to-market motion across its SMB, mid-market and enterprise clients," the brokerage said.
Wedbush reiterated an outperform rating on the stock and lowered its price target to $140 per share from $155.
Price: 105.57, Change: -0.49, Percent Change: -0.46
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