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Read What Made Goldman Sachs Bullish On Datadog

  • Goldman Sachs analyst Kash Rangan raised the rating on Datadog Inc (NASDAQ: DDOG) to Conviction Buy from Buy and put a $250 price target on shares, implying some 56% upside.

  • Rangan noted that the company is "well-positioned" for success outside of its core products, notably in security, which could boost its total addressable market by $20 billion.

  • In addition, Rangan cited the company's revenue model "has room to grow," as Datadog only accounts for 10% of its largest clients' cloud spend.

  • In addition, Rangan noted that Datadog's product suite is cloud-agnostic and is well integrated into a platform on a common architecture.

  • Price Action: DDOG shares traded higher by 0.49% at $159.80 in the market on the last check Tuesday.

Latest Ratings for DDOG

Feb 2022

Goldman Sachs

Reiterates

Buy

Feb 2022

Morgan Stanley

Maintains

Overweight

Feb 2022

Goldman Sachs

Maintains

Buy

View More Analyst Ratings for DDOG

View the Latest Analyst Ratings

See more from Benzinga

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