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Why Datadog Stock Soared as Much as 30% Higher on Tuesday

TheMotleyFool

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Why Datadog Stock Soared as Much as 30% Higher on Tuesday: https://g.foolcdn.com/editorial/images/754114/person-wearing-glasses-looking-at-multiple-electronic-devices.jpg

Shares of (NASDAQ: DDOG) charged sharply higher Tuesday, surging as much as 306%. As of 10:28 a.m. ET, the stock was still up 29.4%.

The catalyst that sent the cloud monitoring, analytics, and security company soaring was financial results that proved beyond the shadow of a doubt that its rebound was well and truly underway.

For the third quarter, Datadog reported revenue of $547.5 million, up 25% year over year, resulting in non-GAAP earnings per share (EPS) of $0.45. This sailed past expectations, as analysts' consensus estimates were calling for $524.2 million and EPS of $0.34.

Source Fool.com