Datadog (DDOG) shares soared 5.00% during intraday trading on Friday, driven by a wave of positive analyst sentiment.
The stock movement was primarily fueled by multiple investment banks raising their price targets on the cloud software company in quick succession. RBC Capital increased its target to $250 from $219, maintaining an Outperform rating. Cantor Fitzgerald raised its target from $171 to $226, representing an increase of over 32%, while Bank of America Securities lifted its target from $225 to $260.
These concentrated upward revisions reflect strong institutional confidence in the future growth prospects of Datadog's core business — its integrated cloud observability and security platform. According to data from FactSet, analysts maintain an average Buy rating on the stock.