Datadog Upgraded to Outperform at Oppenheimer
<p>Oppenheimer analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/DDOG'>Datadog, Inc. (NASDAQ:DDOG)</a> to Outperform from Perform with a price target of $105. </p>
<p>The analysts believe that the company's unified, real-time view of the entire technology stack is essential for developers and enterprises as they work to identify and eliminate performance issues. While not immune to economic downturns, the critical nature of its solutions gives Datadog some degree of resilience during times of reduced spending. </p>
<p>The company has also expanded into the security market, taking advantage of the trend towards "shift-left" security efforts and its strong relationships with developers. This offers the potential for significant growth in its total addressable market. In addition, Datadog generates high-teens percentage free cash flow and operating margins while growing revenue at a rate of more than 30% CAGR, which the analysts view positively as investors increasingly focus more on profitability near term. </p>
NASDAQ:DDOG