Bank of America analyst Koji Ikeda raised the price target for Datadog to $280 from $260. The firm maintains a Buy rating on the shares.
The revision follows a keynote session with Datadog CFO David Obstler. Analysts expressed increased optimism regarding multi-product adoption and overall demand trends.
Bank of America specifically highlighted Datadog's strong position within the artificial intelligence sector. This update arrives ahead of the DASH annual user conference beginning June 9.
The upcoming event is expected to reveal major platform announcements and product roadmap updates.