Barclays has adjusted its price target for Datadog (DDOG, Financial), lowering it from $180 to $125, while maintaining an Overweight rating on the stock. This reevaluation comes as part of the firm's first-quarter earnings forecast for the U.S. software sector.
The financial institution anticipates that the results from Q1 are unlikely to serve as a significant trigger for stock movements within the sector. Initial assessments indicate softer performance, though not alarmingly so, directing investor focus to future guidance from the company.
Barclays expresses doubt that many companies will significantly adjust their financial projections downward, given the relatively minor impact of first-quarter results. Consequently, the firm believes the sector might remain in a holding pattern until the release of the second-quarter figures.
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 $149.73 with a high estimate of $200.00 and a low estimate of $115.00. The average target implies an upside of 64.22% from the current price of $91.18. 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 $181.47, suggesting a upside of 99.02% from the current price of $91.18. 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.
