10 AI News Investors Should Not Miss

7. Datadog, Inc. (NASDAQ:DDOG)

Number of Hedge Fund Holders: 79

Datadog, Inc. (NASDAQ:DDOG) is an American software company that operates an observability and security platform for cloud applications. The enterprise software leader is a player in artificial intelligence with expertise in cloud computing.

On November 1st, Bank of America Securities maintained a “Buy” rating on the stock and a $155.00 price target. The buy rating comes from the company’s anticipated strong performance in the upcoming earnings report, expected to be released on November 7th. Besides the firm expecting favorable results with a projected revenue growth of 25.5% year-over-year for the third quarter indicating a healthy expansion, the insights from AWS’s recent performance suggest an underlying demand for cloud services, a promising indicator for Datadog’s growth prospects. Moreover, promising feedback from major cloud providers also reinforces the company’s ability to meet or exceed expectations.