Datadog, Inc.’s Stock Price Takes a Dip to $190.89, Down by 3.52%: An In-Depth Market Analysis

Datadog, Inc. (DDOG)

190.89 USD -6.97 (-3.52%) Volume: 4.6M

Discover Datadog, Inc.’s stock price performance, currently trading at 190.89 USD, experiencing a percentage change of -3.52% this trading session. With a trading volume of 4.6M, this tech stock boasts a significant year-to-date growth of +38.47%, making DDOG a stock to watch in 2021.

Latest developments on Datadog, Inc.

Datadog’s stock price is in focus as Citi reiterates a Buy rating following strong Q3 results and management discussions. The company is considering a GitLab acquisition, while an officer sells shares and investor presentations are on the horizon. Datadog faces competition from Chronosphere, which offers AI that explains itself. ProShare Advisors LLC boosts its stake in Datadog, Inc., while Los Angeles Capital Management LLC holds $3.14 million in stock. Datadog launches storage management solutions to address rising AI storage costs and will be presenting at upcoming investor conferences. Analysts have raised the price target for Datadog to $230 from $170, maintaining a Buy rating.

Datadog, Inc. on Smartkarma

Analysts at Baptista Research have been closely monitoring Datadog’s financial performance, with a bullish sentiment on the company’s growth potential. In their report titled “Datadog Crosses $100 Million in Security Revenues: Why We Think This Just The Beginning!”, Datadog reported a strong second-quarter performance, with revenue reaching $827 million, a 28% year-over-year increase. The analysts highlighted the company’s robust growth driven by higher-than-expected usage from existing customers and strong contributions from AI native cohorts.

In another report by Baptista Research titled “Datadog Eyes $1 Billion Upwind Deal: Could This Be A Game-Changer For Cloud Security?”, analysts discussed Datadog’s potential acquisition of Israeli cybersecurity firm Upwind for approximately $1 billion. This move, following Upwind’s recent successful funding round, signals Datadog’s strategic expansion into cloud workload protection and runtime security. The analysts at Baptista Research see this acquisition as a significant step towards strengthening Datadog’s product portfolio in cloud-native security and AI observability.

A look at Datadog, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on Smartkarma Smart Scores, Datadog has a positive long-term outlook. With high scores in Growth and Momentum, the company is positioned for strong performance in the future. Its cloud-based monitoring and analytics platform is in high demand, indicating potential for continued growth and success.

Datadog’s resilience score of 4 also bodes well for its long-term prospects, showing that the company is well-equipped to weather challenges and adapt to changing market conditions. While its value and dividend scores are not as high, the strong performance in other areas suggests that Datadog remains a solid investment option for those looking for growth opportunities in the tech sector.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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