Workflow
Cloud Stock Climbs on Beat-and-Raise
DDOGDatadog(DDOG) Schaeffers Investment Research·2024-08-08 14:59

Datadog Inc (NASDAQ:DDOG) is up 4.2% to trade at 112.55,afterthecompany′sbetter−than−expectedsecond−quarterearningsandrevenue.Thecloudnamealsolifteditsfull−yearforecastduetostrongcybersecuritydemand.Thetechsectorslump,especiallyaftertheglobalIToutage,weighedonthethestockinJulyandthismonth.However,DDOGisontrackforitsthird−straightwin,bouncingoffthe112.55, after the company's better-than-expected second-quarter earnings and revenue. The cloud name also lifted its full-year forecast due to strong cybersecurity demand. The tech sector slump, especially after the global IT outage, weighed on the the stock in July and this month. However, DDOG is on track for its third-straight win, bouncing off the 100 level after four consecutive weekly losses. Year to date, Datadog stock is down 7.6%. Unsurprisingly, t ...