AkhenOsiris
$DDOG Upgraded to Buy at BTIG
BTIG upgraded Datadog to Buy from Neutral, introducing a price target of $143 per share in a note Thursday, citing strong checks and an "underappreciated Splunk displacement opportunity."
Analysts at BTIG see DDOG as a top player in the observability market, poised for substantial growth with new products and features such as Flex Logs, LLM Monitoring, and Bits AI, offering growth potential.
" In short, we see DDOG as the best play in the observability market with a large opportunity to gain share," they declare. "We also think new products and features (such as Flex Logs, LLM Monitoring, Bits AI, etc) create a compelling long-term growth opportunity."
The firm explained that recent fieldwork involving discussions with ten partners, five of which skewed towards large enterprises, led BTIG to a few key conclusions.
Firstly, cloud cost optimization initiatives related to the broader macroeconomic environment appear mostly complete, which is positive for observability spending.
BTIG noted that, despite Microsoft's mild cloud growth disappointment, the overall trend indicates improving growth at the top three hyperscale cloud IaaS providers, suggesting a favorable outlook for observability spending.
BTIG believes that DDOG is well-positioned to gain incremental market share from Splunk following its acquisition by Cisco. Although this displacement is not expected to significantly impact 2024, it is said to represents a substantial opportunity over the next three to four years.
BTIG estimates that DDOG could capture approximately $270 million in incremental annual revenue from Splunk, adding around 300 basis points per year to DDOG's growth rate through 2027.
Positive Q2 2024 field checks support BTIG's confidence in DDOG's forecasts.
Analysts expect DDOG to post strong Q2 revenue, potentially reaching $644 million, a 26.4% year-over-year increase in an upside scenario compared to the street estimate of $625 million. For the full year, BTIG projects a 25% year-over-year revenue growth for DDOG, surpassing the street's 23% estimate.
tweet
$DDOG Upgraded to Buy at BTIG
BTIG upgraded Datadog to Buy from Neutral, introducing a price target of $143 per share in a note Thursday, citing strong checks and an "underappreciated Splunk displacement opportunity."
Analysts at BTIG see DDOG as a top player in the observability market, poised for substantial growth with new products and features such as Flex Logs, LLM Monitoring, and Bits AI, offering growth potential.
" In short, we see DDOG as the best play in the observability market with a large opportunity to gain share," they declare. "We also think new products and features (such as Flex Logs, LLM Monitoring, Bits AI, etc) create a compelling long-term growth opportunity."
The firm explained that recent fieldwork involving discussions with ten partners, five of which skewed towards large enterprises, led BTIG to a few key conclusions.
Firstly, cloud cost optimization initiatives related to the broader macroeconomic environment appear mostly complete, which is positive for observability spending.
BTIG noted that, despite Microsoft's mild cloud growth disappointment, the overall trend indicates improving growth at the top three hyperscale cloud IaaS providers, suggesting a favorable outlook for observability spending.
BTIG believes that DDOG is well-positioned to gain incremental market share from Splunk following its acquisition by Cisco. Although this displacement is not expected to significantly impact 2024, it is said to represents a substantial opportunity over the next three to four years.
BTIG estimates that DDOG could capture approximately $270 million in incremental annual revenue from Splunk, adding around 300 basis points per year to DDOG's growth rate through 2027.
Positive Q2 2024 field checks support BTIG's confidence in DDOG's forecasts.
Analysts expect DDOG to post strong Q2 revenue, potentially reaching $644 million, a 26.4% year-over-year increase in an upside scenario compared to the street estimate of $625 million. For the full year, BTIG projects a 25% year-over-year revenue growth for DDOG, surpassing the street's 23% estimate.
Anecdotally hearing observability seeing some benefit out there, especially post CRWD outage, but also due to AI workloads...any meat on this bone @mdsmaldon @SaaSletter ? - AkhenOsiristweet
AkhenOsiris
Let's add $ARM...feels like it was brushing $190 just a few weeks ago...in fact it was, 3 weeks to be exact, welcome to a blazing fast 1/3 drawdown 😂
tweet
Let's add $ARM...feels like it was brushing $190 just a few weeks ago...in fact it was, 3 weeks to be exact, welcome to a blazing fast 1/3 drawdown 😂
TIL $MU is off 35% in a mere 40 days 😂 God I love semis.
Honorable mention to $AMD, down 25% in 20 days - AkhenOsiristweet
Offshore
Photo
Bamboo
RT @oluwadamisi: I'm grateful for apps like @investbamboo the fact that folks can invest in US stocks from naija is truly a blessing, i remember when i started reading books on investment & businesses as far back as 03, all we had was the NSE. Now Investing in orgs I've read about is so cool...
tweet
RT @oluwadamisi: I'm grateful for apps like @investbamboo the fact that folks can invest in US stocks from naija is truly a blessing, i remember when i started reading books on investment & businesses as far back as 03, all we had was the NSE. Now Investing in orgs I've read about is so cool...
tweet
Offshore
Photo
Finding Compounders
Dick Fuld , Lehman’s former CEO, on the cover of BusinessWeek in 2001
If only they knew
Source : financegoldenera https://t.co/I9LYskDEOn
tweet
Dick Fuld , Lehman’s former CEO, on the cover of BusinessWeek in 2001
If only they knew
Source : financegoldenera https://t.co/I9LYskDEOn
tweet
Offshore
Video
Quiver Quantitative
🚨 Just released a new dashboard tracking politicians' fundraising.
It tracks which candidates different companies are funding, and who is donating the most.
Look up a politician to see their corporate donors.
Please share, the more eyes on the data the better.
The fundraising data is collected from FEC filings, and race ratings for members of Congress are provided with permission by The Cook Political Report via its API.
tweet
🚨 Just released a new dashboard tracking politicians' fundraising.
It tracks which candidates different companies are funding, and who is donating the most.
Look up a politician to see their corporate donors.
Please share, the more eyes on the data the better.
The fundraising data is collected from FEC filings, and race ratings for members of Congress are provided with permission by The Cook Political Report via its API.
tweet
Kaushik
Citi - We now expect the Fed to start the cutting cycle with 50bp rate cuts in September and November, followed by 25bp cuts at each subsequent meeting until reaching a policy rate of 3-3.25% by mid-2025
tweet
Citi - We now expect the Fed to start the cutting cycle with 50bp rate cuts in September and November, followed by 25bp cuts at each subsequent meeting until reaching a policy rate of 3-3.25% by mid-2025
Citi - Fed to start with 50bp cuts in rapidly weakening labor market tweet
twitter.com
undefined
undefined