The ‘vast majority’ of Datadog customers are running on AWS, analyst says
Datadog Inc. shares shrugged off a Wells Fargo downgrade Friday as Wall Street saw positive read-throughs for the observability company in Amazon.com Inc.’s latest cloud-computing results.
“Taking AWS growth of 12.3% in 3Q, this suggests ~26% growth for DDOG, well above the guide high-end of 20%,” he wrote. “What gives? We worry many investors still believe that Datadog disconnected from AWS last quarter,” said Weed, who has an outperform rating and $133 target price on the stock.
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