Why Datadog Stock Is a Good Boy on Wednesday
Shares of cloud-based data monitoring and analytics platform Datadog (NASDAQ: DDOG) inched higher on Wednesday morning, rising 2.3% through 11:05 a.m. EST.
You can thank investment bank Oppenheimer for that.
Praising the company for its "unified, real-time view into the entire technology stack" this morning, Oppenheimer upgraded Datadog stock to outperform and gave it a $105 price target that implies the stock could rise nearly 29% over the next 12 months, reports StreetInsider. And Oppy reassured investors who are worried about the prospects of richly valued cloud stocks rising in the face of a looming recession, saying, "While not recession-proof, the mission-critical nature of its solutions gives Datadog relative resiliency in times of spending constraints."
Source Fool.com
