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BMO Capital initiated coverage of Datadog (NASDAQ:DDOG) with an Outperform rating, and analyst Keith Bachman noted that “cloud market dynamics have improved significantly in recent quarters.”
Datadog (DDOG) provides an observability service for cloud-scale applications. Bachmann underlined the fact that DDOG is targeting a different type of customer than rival cloud services company Dynatrace (DT).
“We believe Dynatrace will continue to do well with large enterprises in hybrid environments and Datadog will do well with other customer segments, including cloud-centric organizations and workloads,” BMO reported.
BMO's block summary model shows that Datadog (DDOG) revenue will grow by almost 50% between 2023 and 2025.
DDOG share price has increased by 70% During the past year.
