Bank of America analysts defend Datadog as stock drops after beating Q1 expectations.

From Investing.com: 2024-05-11 05:23:02

Bank of America analysts defended Datadog as its stock fell, reporting Q1 2024 results that beat expectations with $42.6 million in net income and $611 million in revenue. Despite a 27% YoY growth, shares dropped 10%. Analysts noted strong RPO growth and increased ARR, foreseeing long-term AI benefits. ARR grew 27%, surpassing infrastructure peers. Future AI deployments are expected to drive further growth. Moving ahead, Datadog is estimated to continue outperforming the industry average.



Read more at Investing.com: This software stock ‘should benefit big from AI’ says Bank of America By Investing.com