On June 29, Datadog rose 3.21% in regular trading, trading at $249.96/share, with turnover of $123 million. The stock was buoyed by a wave of bullish analyst actions from multiple Wall Street firms.
On the news front, several major investment banks have recently raised their price targets on Datadog in rapid succession. Arete significantly lifted its target to $340, while Truist upgraded its rating from Hold to Buy with a new target of $300. Bank of America, Piper Sandler, Scotiabank, Capital One, BMO Capital, and Needham also raised their respective targets, with the consensus mean price target now around $242. RBC Capital Markets highlighted that Datadog's rapid advancement in AI product development constitutes a durable positive trend, while Wedbush added the stock to its AI 30 list following the company's DASH conference where over 100 new capabilities were unveiled.
Within the Application Software sector, the broader group showed strength. Among individual stocks, AppLovin up 5.29%, Palantir Technologies up 4.64%, Strategy up 4.30%, Adobe up 2.48%, IREN up 0.78%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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