Tiger Brokers

BUZZ-BofA raises Datadog PT on strong AI-driven security demand

Reuters
Yesterday
BUZZ-BofA raises <a href="https://laohu8.com/S/DDOG">Datadog</a> PT on strong AI-driven security demand

** BofA Global Research raises cloud security firm Datadog's DDOG.O PT to $215 from $180, maintains rating at "buy"

** New PT a 12.7% premium to stock's last close

** The company on Thursday forecast Q4 profit and revenue above estimates, betting on surging demand for its cloud-security products from businesses adopting AI

** Brokerage says DDOG's largest AI-native customer, OpenAI, renewing its contract "puts to bed the bear thesis that this customer was going to be zero", adding that growth from other AI-natives is also accelerating

** BofA lifts Datadog's long-term outlook, FY25-FY27 revenue estimates, citing stronger customer spending and AI-driven product momentum

** 36 of 43 brokerages rate the stock "buy" or higher, six "hold" and one "strong sell"; their median PT is $215, according to data by LSEG

** Including session's moves, shares up 28.1% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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