Is It Too Late to Buy Datadog Stock?
Datadog (NASDAQ: DDOG) has had an impressive run so far this year, riding the broader-based recovery of technology stocks. Shares of the cloud monitoring specialist are up more than 22% so far this year, easily outperforming the 14% gains of the S 500. This is in stark contrast to its performance in 2022, when the stock slumped 59%.
Beyond the general market rebound, Datadog's expanding suite of cloud monitoring tools and its resilient financial results have helped drive the stock price higher. Furthermore, Datadog was able to generate consistent robust growth during the downturn, despite the worst economic conditions in more than a decade. This helped fuel investor confidence that the company is positioning itself for better days ahead.
What does this mean for those who missed out on Datadog's current rally? Are there additional gains on the horizon, or has the stock simply run too far too fast? Let's see what the data shows.
Source Fool.com
