These 2 Cloud Computing Stocks Are Soaring Skyward
The stock market looked poised to give up a bit of ground on Tuesday morning, consolidating some big gains over the past week. Recent government data has answered some lingering questions about the economy, and the Federal Reserve's decision to leave interest rates unchanged has restored some confidence in the future. Investors can therefore refocus their attention on all the quarterly results that companies are reporting right now.
Cloud computing stocks have experienced a lot of volatility in 2023, as excitement about artificial intelligence (AI) has had to fight with the financial realities of many clients pulling back on their IT spending. However, the latest results from Datadog (NASDAQ: DDOG) and Alteryx (NYSE: AYX) show that there's still plenty of room for strong tech companies to stand out from the crowd. Here's what you need to know about the latest results from these two cloud players.
Shares of Datadog soared more than 20% in premarket trading Tuesday morning. The provider of cloud security and monitoring software reported third-quarter financial results that restored confidence in the company's ability to generate robust growth.
Source Fool.com
