Datadog Inc (NASDAQ:DDOG) stock is on the rise today, after an upgrade from Stifel to "buy" from "hold." The brokerage threw in a lofty price-target hike as well, upping its price objective to $140 from $98, territory not seen since May 2022.
At last glance, Datadog stock was up 1.4% to trade at $115.91, earlier reaching as high as $117.47. Today's pop has the stock nearing its Nov. 30 52-week high of $120.26, which the equity closed after an impressive November rally. The shares are up 57.5% since the start of the year, with $115 -- the area of DDOG's previous 52-week highs back in July -- now stepping up as a possible floor.
There is still plenty of room for more bull notes, as 12 of the 39 brokerages in coverage carry a "hold" rating on the stock. Plus, the 12-month consensus price target of $118.53 is roughly in line with current levels.
Premium can be had for a bargain right now, per Datadog's Schaeffer's Volatility Index (SVI) of 39% that ranks in the relatively low 8th percentile of annual readings. This means options traders are pricing in lower-than-usual volatility expectations.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Get This Free Report