Datadog's (DDOG) artificial intelligence cohort continues to grow rapidly and is diversifying, including 750 and more AI-native customers, all 10 of the largest AI companies, with eight spending $10 million and more annually, Oppenheimer said in a Thursday research note.

Oppenheimer said that the company's guidance for the full year appears to be fully derisked after its largest customer OpenAI renewed in Q3 with lower usage expected, allowing better clarity on the overall business performance.

The brokerage also said that the difference between the company's raised guidance for 2026 and investor expectations reflects the company's measured approach.

Oppenheimer maintained the company's outperform rating with a $300 price target.

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