DDOG - Datadog Stock Soars 28% After Its Latest Announcement. Should You Still Buy the Stock?
2023-11-15 07:00:00 ET
When a stock makes a large one-day jump, many investors wonder if they've already missed the boat or if it's just the beginning of something bigger. That's where many Datadog (NASDAQ: DDOG) watchers find themselves after the stock's monstrous 28% rise the day after it reported earnings.
So, is it too late? Or do investors still have a chance at picking up shares of Datadog for a reasonable price? Let's find out.
It's probably smart to understand the context behind Datadog's jump before digging into the reasons why it happened. The stock has had a tremendous year -- up 40%, including the jump after earnings. However, it reached its 2023 peak in August at $116 per share and subsequently slumped to around $90 following its Q2 earnings report. The stock moved lower, to $80 per share, right before Q3 earnings announcement, after which it shot up to more than $100 per share.
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Datadog Stock Soars 28% After Its Latest Announcement. Should You Still Buy the Stock?