Why Datadog Stock Rose Today
Shares of Datadog (NASDAQ: DDOG) rose today, up by 3% as of 1:40 p.m. EDT, after analysts at financial firm Berenberg initiated coverage of the tech company with a hold rating. Despite that lukewarm rating, the research note included some positive comments. The stock had been up by as much as 5% in morning trading.
Analyst Kingsley Crane started Datadog at hold alongside a price target of $103, which is slightly below Tuesday's closing price. The tech company is a leader in cloud monitoring, and should be able to keep growing its market share in cybersecurity, according to Berenberg.
Image source: Datadog.
Source Fool.com
