CNBC’s Jim Cramer: Datadog’s Quarterly Report Boosts Tech Sector with Nearly 30% Stock Surge

Share This Post

  • Datadog’s stock surged nearly 30% after beating Wall Street’s earnings estimates
  • The company’s success signals good news for peer stocks like MongoDB and Snowflake
  • Cramer breaks down Datadog rally, says tech will continue to see gains

Datadog’s Stock Surges Nearly 30% After Quarterly Report, Boosting Tech Sector, Says CNBC’s Jim Cramer

Datadog, a cloud infrastructure monitoring and analytics company, saw its stock surge nearly 30% on Friday after the release of its impressive quarterly report. The surge also provided a boost to the overall tech sector, as CNBC’s Jim Cramer noted.

In the quarterly report, Datadog reported a revenue of $177 million, marking a 66% increase year-over-year. The company also posted a net loss of $5.1 million, or 4 cents per share, compared to a net loss of $9.5 million, or 61 cents per share, in the same period last year.

The impressive results were driven by the ongoing digital transformation and the increasing demand for cloud-based services, as more companies shift their operations online.

Jim Cramer, host of CNBC’s Mad Money, praised Datadog’s strong performance, stating that the company has “exceeded all expectations” and is “clearly firing on all cylinders.”

Datadog’s stock surge also had a positive impact on the tech sector as a whole, with the Nasdaq composite rising more than 1% on Friday.

Investors and analysts alike are now looking towards the future for Datadog, as the company continues to solidify its position in the cloud infrastructure and monitoring market.

With the continued shift towards digitalization and cloud-based services, Datadog appears to be well-positioned for further growth and success in the coming quarters.

Read More:

Partnership Between Mitsubishi Electric and Nozomi Networks Strengthens Operational Technology Security Business

Mitsubishi Electric and Nozomi Networks Partnership Mitsubishi Electric and Nozomi...

Solidion Technology Inc. Completes $3.85 Million Private Placement Transaction

**Summary:** 1. Solidion TechnologyInc. has announced a private placement deal...

Analyzing the Effects of the EU’s AI Act on Tech Companies in the UK

Breaking Down the Impact of the EU’s AI Act...

Tech in Agriculture: Roundtable Discusses Innovations on the Ranch

Summary of Tech on the Ranch Roundtable Discussion: ...

Are SMEs Prioritizing Tech Investments Over Security Measures?

SMEs Dive Into Tech Investments, But Are...

Spotify Introduces Music Videos for Premium Members in Chosen Markets

3 Summaries of Spotify Unveils Music Videos for Premium...

Shearwater to Monitor Production at Equinor’s Two Oil Platforms

Shearwater GeoServices secures 4D monitoring projects from Equinor for...

Regaining Europe’s Competitive Edge in Innovation: Addressing the Innovation Lag

Europe’s Innovation Lag: How Can We Regain Our Competitive...

Related Posts

Government Warns of AI-Generated Content: Learn More about the Issue

Government issued an advisory on AI-generated content. All AI-generated content...

Africa Faces Internet Crisis: Extensive Outage Expected to Last for Months, Hardest-Hit Nations Identified

Africa’s Internet Crisis: Massive Outage Could Last Months, These...

FTC Investigates Reddit for AI Content Licensing Practices

FTC is investigating Reddit's plans...

Journalists Criticize AI Hype in Media

Summary Journalists are contributing to the hype and...