Datadog benefits from strong customer demand and strategic partnerships, making it an attractive stock.
From Nasdaq: 2024-06-03 11:52:00
Datadog (DDOG) benefits from strong customer demand for observability, cloud security, and software delivery offerings, expanding its customer base with new features. The company had 3,340 customers with an ARR of $100,000+ in Q1, up 14.8% YoY, with 82% using two or more products. Datadog’s partnership strategy with major cloud providers like Amazon, Google, and Microsoft positions it as a key player in the multi-cloud and hybrid cloud monitoring space. The company’s deep integrations with AWS, Google Cloud, and Microsoft Azure enable customers to gain comprehensive visibility across diverse cloud environments. Datadog’s multi-cloud and multi-vendor approach empowers organizations to optimize performance and maintain a robust security posture across their cloud environments. For 2024, DDOG expects revenues between $2.59 billion and $2.61 billion, with a Zacks Rank #1 (Strong Buy) and strong growth potential, making it an attractive stock for investors. Zacks experts have identified a little-known chemical company with the potential for explosive upside, offering a good investment opportunity for retail investors.
Investors are advised to keep a close watch on Datadog’s performance and position in the burgeoning cloud monitoring market, as the company’s innovative approach and strategic partnerships with major cloud providers continue to drive growth and success in the industry.
Read more at Nasdaq: Do Datadog’s (DDOG) Solid Portfolio & Partner Base Make It a Buy?