HomeMarket NewsUnlocking Potential: Datadog Inc. Receives High Praise from Jim Cramer

Unlocking Potential: Datadog Inc. Receives High Praise from Jim Cramer

Actionable Trade Ideas

always free


During a recent episode of CNBC’s β€œMad Money,” the esteemed Jim Cramer endorsed Datadog Inc. DDOG as a β€œdynamite company.”

Positive Outlook

In a surprise move, Cramer expressed optimism about Datadog despite its seemingly lofty valuation. When prompted by a viewer’s question, he highlighted the company’s operational prowess and strong growth prospects.

The Company’s Expertise

β€œI think it is a dynamite company, and it is a buy. It is expensive, but they really know what they’re doing,” remarked Cramer, acknowledging Datadog’s deep industry knowledge and strategic positioning.

Industry Position

Datadog, a U.S.-based firm, specializes in providing observability services for large-scale cloud-based applications. As the demand for cloud technology continues to surge, Datadog has witnessed rapid expansion and diversified its product offerings to cater to major service providers such as Amazon Web Services,
Microsoft Azure, Google Cloud Platform, and more.

Analyst Insights

Earlier this month, 18 financial analysts weighed in on Datadog, offering varying perspectives ranging from bullish to bearish. The consensus among analysts set a 12-month price target of $147.44 for the stock, reflecting a substantial increase from the previous target of $126.33.

Moreover, there has been an 18.08% uptick in Datadog’s short percent of the float, with 11.77 million shares sold short, constituting 4.18% of all available shares for trading. The data indicates that it would take traders approximately 1.81 days to cover their short positions.

Market Performance

Price Action: Despite market fluctuations, Datadog has exhibited resilience, closing at $120.87 on Monday. This marks a slight uptick from the previous close of $120.42, with the stock oscillating between a 52-week high of $138.61 and a low of $62.597.

Image by rafapress via Shutterstock

Engineered by Benzinga Neuro, Edited by
Pooja Rajkumari

The GPT-4-based Benzinga Neuro content generation system leverages the rich Benzinga Ecosystem, incorporating native data, APIs, and more to produce comprehensive and timely narratives for you.
Discover more.

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.