Action Investments Limited: Datadog Software Profits from Cloud Computing and AI Trends

Datadog (DDOG) has had a tumultuous few months, with DDOG stock fluctuating significantly.
SHEUNG WAN, Hong Kong - Nov. 22, 2023 - PRLog -- The shares of the software maker decreased by more than 17% on August 8th due to a weak third-quarter outlook. However, three months later, on November 8th, DDOG stock surged more than 28% when the results of that very same quarter turned out better than expected.

Datadog is based in New York and specializes in monitoring applications running on cloud computing platforms. Its monitoring and analytics tools are mainly purchased by software companies and information technology departments. Datadog's software runs on's (AMZN) Amazon Web Services, Microsoft's (MSFT) Azure cloud platform, and Alphabet's (GOOGL) Google cloud services.

Although the company's revenue increased by 70% in 2021 and 63% in 2022 during the COVID-19 pandemic, many companies began to reduce their usage of cloud services in 2022, which analysts referred to as "optimization."

In 2023, Datadog's revenue is expected to increase by nearly 26%, with a further slowdown in 2024, to 22.5% sales growth. As the company attempts to break out of a year-long cup with handle, it is worth questioning whether Wall Street's optimistic view on its 2024 revenue growth is realistic.

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