1 Magnificent Growth Stock Down 61% to Buy Hand Over First, According to Wall Street
Many growth stocks fell sharply this past year as high inflation and rising interest rates dragged the Nasdaq Composite into a bear market. It's generally not a good thing when a stock takes a hit, but that drawdown did create a compelling buying opportunity where Datadog (NASDAQ: DDOG) is concerned, at least according to Wall Street. The stock is currently down 54% from its high, but 28 out of the 36 analysts who follow Datadog said they believe it will outperform the market over the next year.
Is it time to buy this growth stock?
Datadog offers observability and security software. Its platform provides real-time visibility across the corporate technology stack, aggregating data from every system and service to help businesses identify and resolve performance problems and security threats. Datadog provides over 600 integrations that make its software easy to deploy, and its platform leans on artificial intelligence (AI) to automate anomaly detection, root cause analysis, and incident alerts.
Source Fool.com
