Since the start of the year, Datadog Inc. (NASDAQ: DDOG) shares have soared by 150%. Many citations confirm the company’s position as one of the top players in the analytics market. DDOG shareholders received a positive recommendation from analysts at Truist Securities last week.
DDOG shares have been rated Buy by Truist Securities, with a target price of $120. Analysts have argued that Datadog’s capabilities surpass its competitors in data monitoring and analysis. In addition to the slow but steady growth in sales, catching up with the demand is another positive factor.
With the DatadogInc (DDOG) platform, you can track application activity, detect issues, and perform scalability on a cloud-based IT platform. Furthermore, the company provides application performance monitoring (APM), network performance management, records management, and other services. IT operations management’s potential market value is estimated at $37 billion by Gartner. Since the company’s sales aren’t even $1 billion, there is a lot of room for growth.
A fourth-quarter report from Datadog is expected to be released by mid-February. The company expects its revenues to rise from 162 million to 164 million, while it expects adjusted earnings of between 0.1 and 0.2 per share. Currently, Wall Street analysts have forecasted the same revenue and earnings figures. It is generally accepted that this forecast is conservative since it considers the risks and uncertainties associated with the COVID-19 pandemic.
Since the beginning of the year, Datadog Inc (DDOG) performance has been positive. DDOG’s stock price has increased 144.65% over the past year, while it has grown by 15.46% over the past six months. However, in the last month, DDOG was down by -4.07%, bringing its quarterly performance to -4.83%. Currently, the performance is down 1.44% for the week.