Datadog set to join S&P 500 index, shares jump

** Shares of cloud security firm Datadog DDOG.O up 9.4% at $147.7 premarket

** Co set to replace Juniper Networks JNPR.N in the S&P 500 .SPX index prior to the opening of trading on July 9

** Server maker Hewlett Packard Enterprise HPE.N on Wednesday closed its acquisition of JNPR

** Wedbush raises target price of DDOG to $170 from $140

** "We believe that DDOG is well-positioned to continue gaining share within the observability space with elevated usage for its AI cohort across its enterprise customer base" - Wedbush

** Up to last close, stock had fallen 5% YTD