Shares of Datadog Inc.
DDOG,
were rising nearly 4% in Monday morning action after Oppenheimer analyst Ittai Kidron boosted his price target on the stock to $120 from $105, writing of his view that the cloud-monitoring company is positioned well heading into earnings. “We’re positive on Datadog and believe it can deliver a strong beat to conservatively set targets,” he wrote. “The company continues to see solid new logo growth…and success in upselling existing customers.” Kidron has an upbeat view of Datadog’s move into cloud and application security, something he said gives the company “a long tail of growth.” He sees the stock as a “core long-term holding” and rates it at outperform.
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