UBS upgraded Datadog to Buy from Neutral with a price target of $150, up from $125. The firm’s latest industry checks point to “green-shoots” of a potential second half of 2024 spending improvement as well as potential strong medium-term growth for the Azure cloud infrastructure sector. These trends could help Datadog maintain or even modestly accelerate its mid-20% growth rate in the coming quarters, the analyst tells investors in a research note. UBS says that while the shares “aren’t cheap,” there is upside as the company’s 2025 and 2026 revenue growth estimates move up to the 25%-30% range from 25%-26% today.