DDOG - Is Datadog a Buy After Surging 40% Post-IPO?
IPOs, data analytics, and surging stock prices ... oh my.
The year 2019 has been chock-full of noteworthy events for new tech stocks, and Datadog (NASDAQ: DDOG) is the latest to make its mark.
The software-as-a-service (SaaS) company surged 40% following its IPO last Thursday and it's currently valued at around $10 billion as of this writing. That's an impressive feat. Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) bought data analytics peer Looker for $2.6 billion, and salesforce.com (NYSE: CRM) took data insights leader Tableau Software for $15.7 billion early in 2019. Meanwhile, still independent and much older data analysis companies Alteryx (NYSE: AYX) and Splunk (NASDAQ: SPLK) have market caps of $7.7 billion and $18.9 billion, respectively.