Shares of Datadog (NASDAQ: DDOG), a cloud-based monitoring and analytics company, were jumping this morning after an analyst initiated coverage of the company and put an outperform rating on its shares.

The tech stock was up 9.4% as of 11:03 a.m. ET on Wednesday. 

Bernstein analyst Peter Weed started coverage of Datadog today and put a $172 price target on the stock. It was trading at about $101 at the time of this writing.

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Source Fool.com