On July 30, Datadog rose 3.34% in pre-market trading, trading at $273.56/share, with turnover of $131,200. The stock has seen sustained upward momentum as Wall Street sentiment turns increasingly bullish ahead of the company's Q2 earnings report scheduled for August 6.

Multiple major investment banks have recently raised their price targets on Datadog: Bank of America to $305, Citi and Morgan Stanley to $300, Wells Fargo to $295, and Benchmark to $330. Oppenheimer noted that Q2 revenue is expected to exceed consensus estimates, driven by growing AI workloads, strong new customer additions, and traction from newer products including Bits AI, Flex Logs, and Cloud SIEM. The company also recently acquired AI firm Adaptive ML to strengthen its large language model research capabilities and was named a Gartner Magic Quadrant Leader for observability platforms for the sixth consecutive year. Market consensus expects Q2 revenue of $1.214 billion, representing 26.33% year-over-year growth, with adjusted EPS of $0.66, up 29.98%.

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