Stock Groups

Datadog Shares Down Despite Upgrade -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Datadog Inc (NASDAQ:)Even though Blair Abernethy, Rosenblatt analyst, upgraded the company’s shares, a SaaS-based monitoring platform and analytic platform, eSaaS, saw its stock drop Wednesday.

Analyst with a target price of $175 on Datadog stock upgraded Datadog from Neutral to Buy, telling investors that he expected the company to post another solid performance next week.

“Given recent end-market indications of continued heavy investment in enterprise Digital Transformation projects, solid demand for next generation monitoring software for cloud workloads, and strong cloud service provider growth, we again see the potential for incremental upside to our estimates,” explained Abernethy.

Datadog shares dropped 3.3% Wednesday to $13/share. This is nearly 29% off their November record.

Fatima Boolani, Citi’s analyst, assumed coverage last week with a Buy rating. Boolani stated that attractive trends in the “big picture”, product scaling efforts and the sales yield could continue to surprise the upside.

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