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Morgan Stanley upgrades Datadog, says software program inventory can rally greater than 30% 

Celebration on the Nasdaq through the Datadog IPO, September 19, 2019.

Supply: Nasdaq

Buyers ought to benefit from the latest pullback in progress names to purchase Datadog whereas it is nonetheless low-cost, in accordance with Morgan Stanley.

Software program and tech shares have struggled in latest months, and Datadog’s inventory value has dropped sharply since peaking in early February. Morgan Stanley analyst Sanjit Singh upgraded the inventory to chubby from equal-weight, saying in a be aware to shoppers on Friday that the corporate ought to rebound and set a brand new file excessive.

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