Datadog Set for 'Strong' Q3 Results, Oppenheimer Says

MT Newswires Live10-26 23:48

Datadog (DDOG) is expected to post a "strong" Q3 performance with an upside of around 4% to the consensus revenue estimate, Oppenheimer said in a note Monday. The results are due Nov. 4.

The report said net retention rate is expected to remain at over 120%, driven by enterprise and large-customer momentum.

The note said checks showed a largely unchanged competitive environment, pointing to a strong long-term way forward for the company. Datadog's end-to-end AI observability stack leaves it well positioned over growing competition in the space.

"We remain bullish on Datadog with a longer-term view, seeing several growth levers that can sustain 20%+ YoY growth for multiple years," the report said.

Oppenheimer kept its outperform rating and raised its price target to $330 from $300.

Price: 280.49, Change: +10.84, Percent Change: +4.02

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