Why Datadog's Stock Is Trading Higher Today

Datadog Inc (NASDAQ: DDOG) is trading higher Friday after the stock was upgraded.

What Happened: Morgan Stanley analyst Sanjit Singh upgraded Datadog from Equal-Weight to Overweight and announced a $111 price target. The stock should rebound from its recent sell-off to set new all-time highs, Singh said in a note.

On Tuesday, Jefferies analyst Brent Thill maintained Datadog with a Buy and lowered the price target from $120 to $105.

Recent Company News: Datadog announced support for application monitoring with the Amazon Web Services app, Runner. The company said that the new functionality will help engineering and product teams scale, deploy and monitor apps without having to manage their own infrastructure. 

Related Link: Datadog Announces Support for Application Monitoring with AWS App Runner

Price Action: Datadog traded as high as $119.43 and as low as $62.50 over a 52-week period. The stock is down 10.48% year to date.

At last check Friday Datadog was up 3.27% in premarket trading at $91.

Photo courtesy of Datadog.