Scotiabank has revised its price target for Datadog (DDOG, Financial), lowering it from $155 to $125. Despite this adjustment, the firm maintains an Outperform rating for the stock, indicating confidence in its potential for future gains.
Scotiabank analysts highlight Datadog's strong position in the cloud-native monitoring space as a key factor supporting their outlook. The company's comprehensive solutions, encompassing all three pillars of observability, remain a significant competitive advantage. Additionally, the ongoing trend of market consolidation is seen as favorable for Datadog's business.
The analysts suggest that if macroeconomic uncertainties begin to decrease, Datadog could become a compelling investment opportunity once again. Overall, while the price target has been adjusted, Scotiabank still views Datadog as a promising player in the tech sector.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 33 analysts, the average target price for Datadog Inc (DDOG, Financial) is $152.37 with a high estimate of $200.00 and a low estimate of $119.00. The average target implies an upside of 64.67% from the current price of $92.53. More detailed estimate data can be found on the Datadog Inc (DDOG) Forecast page.
Based on the consensus recommendation from 43 brokerage firms, Datadog Inc's (DDOG, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Datadog Inc (DDOG, Financial) in one year is $181.77, suggesting a upside of 96.44% from the current price of $92.53. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Datadog Inc (DDOG) Summary page.
