Why Datadog Stock Popped Thursday Morning
Shares of Datadog (NASDAQ: DDOG) charged sharply higher Thursday morning, surging as much as 6.1%. As of 1:31 p.m. ET, the stock was up 2.1%, even as the broader market indexes slumped.
The catalyst that drove the cloud monitoring and security company higher was third-quarter financial results that far exceeded expectations.
Datadog generated revenue of $437 million, up 61% year over year, on top of 75% growth in the prior-year quarter. At the same time, the company delivered adjusted earnings per share (EPS) of $0.23, which surged 77%.
Source Fool.com
