Bernstein 将 Datadog 评级上调至跑赢大盘、目标价由 237 美元升至 350 美元，盘前股价已涨约 4%

Bernstein Société Générale Group upgraded Datadog ( DDOG ) to Outperform from Market Perform due in part to stronger-than-expected AI-driven demand. Datadog shares edged up 4% during pre-market trading on Monday as Bernstein lifted its price target to $350 from $237. "Looking into '27+, we wondered if incremental add would slow towards 20-30% net new ARR growth (i.e., 50-60% revenue growth in '27 down from 80-90% we expected this year), as enterprise budget/implementation constraints might hold back 'hockey-sticking' spend and consumer reached saturation," said Bernstein analyst Peter Weed in a Monday investor note. "Clearly our imagination failed us—our alt data signals suggest enterprise token consumption appears to have grown at least 50% QoQ among the largest AI labs (and perhaps even faster in their smaller 'Born in AI' customers). Add to this the consumer AI Agent releases (e.g., Muse , Dots ) and our published longer-term view seems likely to be well below reality." Bernstein increased its adjusted earnings per share forecasts for fiscal years 2026 and 2027 to $2.82 from $2.70 and to $4 from $3.45, respectively. What's more, Bernstein's upgraded model does not include any increases for Datadog's traditional customers and platform. "Instead, we think of it as a cushion we gave ourselves," Weed added. "But as consumer AI agents ramp up engagement, this could make the traditional Datadog customers' observability requirements rise to meet that increased demand. Add to this the catalyst that the ' Mythos moment' created for cybersecurity requirements outside the CISO and the release of their Scout v1.0 version of the SRE AI Agent at a time when cloud operations teams are overwhelmed by the influx of code to manage, and we could imagine a bubble of demand well in excess of our more stable demand model we include in this update." Datadog is scheduled to release its third quarter fiscal 2027 results pre-market on November 4. A consensus estimate expects adjusted EPS of $0.64 and revenue of $1.14B. During the same quarter last year, Datadog reported adjusted EPS of $0.55 on revenue of $885.6M.