"Some analysts see substantial upside in The Trade Desk and Datadog, and most believe the stocks are undervalued. The Trade Desk uses artificial intelligence (AI) to help media buyers optimize the performance of digital advertising campaigns. Datadog uses AI to help enterprises predict and resolve application performance and security issues. Artificial intelligence (AI) stocks have accounted for about three-quarters of S&P 500 (SNPINDEX: ^GSPC) returns since ChatGPT's launch in late 2022, according to JPMorgan Chase."
"Mark Kelley at Stifel recently gave The Trade Desk a target price of $74 per share. That implies a 196% upside from its current share price of $25. Brian White at Monness recently set Datadog with a target price of $255 per share. That implies a 112% upside from its current share price of $120. Importantly, while most analysts who cover The Trade Desk and Datadog do not expect triple-digit gains in the next year, the majority do think the stocks are undervalued."
AI-driven stocks accounted for about three-quarters of S&P 500 returns since late 2022. Analysts assigned large target prices to The Trade Desk and Datadog implying 196% and 112% upside respectively from current levels. The Trade Desk provides adtech software that uses AI to evaluate impressions, customize bids, and continuously adjust targeting parameters in real time, with an independent business model that avoids inventory bias. Datadog applies AI to predict and resolve application performance and security issues for enterprises. Most analysts do not expect triple-digit gains within a year, but the majority view both stocks as undervalued.
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