1 Monster Growth Stock That Could Soar by 133%, According to Wall Street
Inflation soared throughout 2022, and it hit a 40-year high just a few months ago. This elevated inflation prompted an aggressive response from the U.S. Federal Reserve, which adjusted interest rates higher, often by 75 basis points at a time. That's triple the more traditional 25-basis-point move.
Naturally, these cost pressures have left people with less disposable income, and the reduction in spending is hurting the corporate sector. It's a key reason the Nasdaq-100 technology index lost 34% of its value this year.
But some companies focus on serving businesses, not consumers, and many of those happen to be outperforming. Datadog (NASDAQ: DDOG) just released its financial results for the third quarter (ended Sept. 30), and its strong results led the company to increase its guidance for the full year for a third straight time.
Source Fool.com
