The tech-heavy Nasdaq gained 2.9%, while the S&P 500 advanced 1.8%.Truist Upgrade Boosts SentimentAdding to the positive backdrop, Datadog received a bullish upgrade from Truist Securities, which raised its rating to Buy from Hold and increased its price forecast to $300 from $190.The firm upgraded the stock after conducting industry checks and attending Datadog’s DASH conference. Truist said enterprise demand for AI adoption continues to outpace efforts to optimize AI spending, creating a favorable environment for Datadog’s consumption-based business model.The analyst also cited greater confidence in Datadog’s relationships with major AI customers, including OpenAI and Anthropic.Truist expects the rise of agentic AI applications to increase demand for telemetry and observability tools over time. The firm forecasts fiscal 2027 revenue growth of 25%, above the FactSet consensus estimate of 20.5%.The $300 price forecast implies roughly 30% upside from Datadog’s June 12 closing price.The stock carries a Buy rating with an average price forecast of $235.77. Recent analyst moves include:
Truist Securities: Upgraded to Buy (Raises Target to $300.00) (June 15)
TD Cowen: Buy (Raises Target to $260.00) (June 11)
