BUZZ - Bernstein upgrades Datadog to "Outperform" and raises its target price, sending the stock price soaring

October 19 - ** Cloud security company Datadog (DDOG.O) shares rose 7%, to $264.81

** The stock is poised for its biggest weekly gain in over a week, ending a five-day losing streak

** Bernstein upgraded the stock from “Market Perform” to “Outperform” and raised the target price from $237 to $350, which is a 41.6% premium over the previous closing price of $247.11

** The firm noted that stronger-than-expected AI-driven customer demand is a key driver of Datadog’s growth outlook

** It highlighted the steadily increasing adoption rate of the company’s newly launched AI-related products, which will be another engine for growth

** Among 49 brokers, 46 rate the stock as “Buy” or above, 2 as “Hold,” and 1 as “Sell”; the median target price is $300—data compiled by LSEG

** Including the day’s gains, the stock has risen 94.3% year-to-date, compared to a 14.2% gain for the Nasdaq Composite Index over the same period .IXIC

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