Shares of Datadog Inc. were getting hit Monday after BofA Securities came out with a more cautious take on the observability software company, warning of “downside revenue risks.”
BofA’s Koji Ikeda worries that his industry conversations haven’t shown significant improvement in demand. “Our take is that while things have not gotten significantly worse, it has also not gotten significantly better, which leads us to believe that Datadog will continue to take a very conservative approach to its outlook,” he wrote.
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