Where Will Datadog Be in 5 Years?
Shares of data analytics firm Datadog (NASDAQ: DDOG) have surged nearly 150% since their IPO last autumn. Organizations have loads of digital data that needs to be parsed through and made sense of, and as digital transformation accelerates because of the coronavirus lockdown, data creation and the need to manage it are set to get a big bump.
As a leader in cloud-based software for managing big data and cloud operations, Datadog has a bright future, although much of that future has been priced into its shares at this point.
According to tech researcher Gartner, spending on IT operations management is expected to reach $37 billion by 2023. Datadog says it believes this figure doesn't capture the additional spend on cloud and hybrid-cloud operations management, which is a double-digit growth industry at this point. The company helps businesses crunch data in both the legacy IT and modern cloud world. And since Datadog itself was born as a cloud-computing business, picking up market share as organizations migrate to newer systems works in its favor.
Source Fool.com
