Shares of cloud monitoring software company Datadog (NASDAQ:DDOG) jumped 7.7% in the afternoon session after Wells Fargo analyst upgraded the stock's rating from Equal-Weight (Neutral) to Overweight (Buy) and raised the price target from $130 to $150. The price target indicates a potential 15% upside from where shares traded when the upgrade was announced. After the initial pop the shares cooled down to $128.10, up 4.9% from previous close.
A deal for HashiCorp could come together in the coming days, according to people familiar with the matter. A deal for HashiCorp would likely command a premium above where the stock is currently trading. HashiCorp had a market capitalization of $4.9 billion after its stock rose about 4% so far this year as of Tuesday afternoon.
Analyst Andrew Nowinski raised his rating on the provider of cloud observability and security software to Overweight from Equal Weight.