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- Ignoring Temporary Uncertainties: Datadog
Ignoring Temporary Uncertainties: Datadog
Datadog is a service for monitoring internal IT infrastructure and services through the SaaS-based analytical platform. Its stocks are trading 50% off their peak prices. So, investors have a rare opportunity to buy its stocks at a significant discount during overall market correction. It is worthwhile to mention that Datadog stock prices were continuously rising after the IPO, and rose significantly over the past two months amid the AI hype. Nonetheless, they have more upside potential at the moment.
The company is demonstrating an impressive revenue pace as it reported Q1 2023 revenues up by 33% YoY to $481.7 million, beating Wall Street forecast by $70 million. Its client base is expanding rapidly, as the company reported 25,500 clients vs 19,800 a year ago. About 81% of existing clients are using at least two services, while 43% pay for 4+ services. There were only 35% of clients who paid for 4+ services a year ago.
The management is expecting revenues to rise by 25% to $2.1 billion in 2023, which is quite impressive compared to other tech companies that are struggling to deliver significant revenue growth compared to the pandemic period. In other words, Datadog stock deserve a place in the long-term investment portfolio.
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