Why Datadog Shares Are Rising Today

Datadog Inc DDOG is trading higher after multiple analysts maintained bullish ratings on the stock and raised their price targets. The company last week reported better-than-expected third-quarter financial results.

• Needham analyst Jack Andrews maintained Datadog with a Buy rating and raised the price target from $173 to $236.
• Barclays analyst Raimo Lenschow maintained Datadog with an Overweight rating and raised the price target from $180 to $225.
• Morgan Stanley maintained Datadog with an Overweight rating and raised the price target from $164 to $200.

Datadog reported quarterly adjusted earnings of 13 cents per share, which beat the estimate of 6 cents per share. The company reported quarterly revenue of $270.49 million, which beat the estimate of $247.73 million.

Datadog expects fourth-quarter adjusted earnings to be in a range of 11 to 12 cents per share versus the estimate of 6 cents per share. The company expected fourth-quarter revenue to be in a range of $290 million to $292 million versus the estimate of $263.3 million.

See Also: Datadog: Q3 Earnings Insights

DDOG Price Action: Datadog is making new all-time highs during Monday's trading session.

The stock was up 4.43% at $193.72 at time of publication.

Photo: courtesy of Datadog.