Cantor Fitzgerald Reduces PT on Datadog, Inc. (DDOG) Stock

Datadog, Inc. (NASDAQ:DDOG) is among the 14 Best Cloud Computing Stocks to Buy Right Now.

On February 6, Cantor Fitzgerald reduced its price target on the company’s stock to $150 from $220, while keeping an “Overweight” rating, as reported by The Fly. As per the analyst, the observability sector demonstrated strong performance, with results ranging from in-line to ahead-of-plan.

After the recent M&A, the security-related sales cycles have strengthened. Also, the ongoing platform consolidation is benefiting the pure-play companies.

Meanwhile, Scotiabank reduced its price target on Datadog, Inc. (NASDAQ:DDOG)’s stock to $160 from $180, while keeping an “Outperform” rating, as reported by The Fly. As per the analyst, the firm believes that Datadog, Inc. (NASDAQ:DDOG) remains the gold standard for cloud-native observability. Also, the firm appreciates the company’s accelerating adoption because of AI.

In a separate release, Baird reduced its price target on the company’s stock to $180 from $220, while keeping an “Outperform” rating. Notably, the firm updated the model after strong results.

Datadog, Inc. (NASDAQ:DDOG) is a U.S.-based company that provides an observability service for cloud-scale applications. Its platform provides monitoring and analytics for servers, databases, tools, and services, delivered via a SaaS data analytics platform.

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Disclosure: None.