1 Growth Stock Set to Soar 163% From Its 52-Week Low, According to Wall Street
The bear market in the technology sector has been brutal this year, with many individual stocks declining by 50% or more as soaring inflation hits the pocket of the consumer. The sell-off has been largely indiscriminate as investors expected the financial results of the tech industry to take a hit across the board.
But that hasn't been the case. In a few unique cases, companies have maintained their strong growth rates from 2021, especially those in the software space that sell their technology to other businesses rather than consumers.
Datadog (NASDAQ: DDOG) is one of them, with sales soaring in the first half of 2022. Its stock hit a 52-week low of $81.12 in June, and one Wall Street investment bank predicts it could soar to $214 within the next 12 to 18 months. It has already recovered to $103.84 as of this writing, but that still leaves plenty of room to the upside for investors who buy it now.
Source Fool.com
