1 Growth Stock Down 40% to Buy Hand Over Fist in November, According to Wall Street
Businesses require more than just semiconductors and foundation models to successfully deploy artificial intelligence (AI) software. They also need observability tools to track development costs, and to ensure their AI applications are producing appropriate outputs. Datadog (NASDAQ: DDOG) is an observability specialist, and it has an expanding portfolio of products designed specifically for the AI industry. Its stock soared to a record high of $293.26 last month, but it has since declined by 40% (as of the market close on Nov. 5) amid deteriorating investor sentiment toward the AI industry as a whole. However, Wall Street thinks this is a golden buying opportunity. The majority of the analysts tracked by The Wall Street Journal have given Datadog stock a buy rating, and their average price target implies significant upside from here. Their bullish stance might be justified, but the stock's valuation could stand in the way of meaningful upside in the near term. Continue reading