DDOG - Pulling My Buy Rating From Datadog

2024-03-25 07:51:31 ET

Summary

• Datadog's stock has seen significant growth in the past 11 months, drastically outperforming the S&P 500.
• The stock is currently at a crucial support level, but its position below major moving averages raises uncertainty.
• The company's growth may be slowing, with slower revenue growth and pessimistic analyst sentiment. Valuation is also a concern.

The rally we’ve seen in equities in recent months has been epic. We know tech stocks have led the way to a large extent, and that has been concentrated further in high-growth areas like semiconductors and software. The latter is the subject of this article and specifically, cloud observability company Datadog ( DDOG )....

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