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Why Datadog Stock Was Soaring This Week

TheMotleyFool 
0 0 09.11.23
Why Datadog Stock Was Soaring This WeekPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/ad10ed87-71d0-4096-a50b-ba9470f8264b.png
 

Week to date, shares of (NASDAQ: DDOG) were up 24% as of 11:33 a.m. ET on Thursday, according to data provided by S&P Global Market Intelligence. The cloud security provider reported a strong third quarter, with revenue up 25% year over year, leading management to raise its full-year guidance.

However, it wasn't so much the revenue growth but management's comments about usage trends on the platform that bolstered investor enthusiasm.

During the earnings call, CEO Olivier Pomel noted signs that companies are starting to spend more on services after working to optimize their existing budget in recent quarters. This trend had been impacting the broader market for cloud services, but investors are getting a sense that 2024 could be a much stronger year of growth for Datadog.

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Source Fool.com

Datadog Inc. Stock

€233.00
0.220%
The Datadog Inc. stock is trending slightly upwards today, with an increase of €0.50 (0.220%) compared to yesterday's price.

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