Wolfe Research strategist Alex Zukin upgraded (NASDAQ: DDOG) to outperform earlier this week. He set a 12-month price target of $140 per share, implying 26% upside from its current price, citing the essential nature of its performance-monitoring software.

Specifically, Zukin wrote the following in a note to clients: "Even in a cost-cutting-obsessed macro environment, engineers simply cannot live without their Datadog." He went on to say that interest in generative artificial intelligence could help Datadog become the fastest-growing software company.

Here's what investors should know about this growth stock.

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Source Fool.com