DDOG - Why Datadog Soared Over 43% in November
2023-12-05 08:05:00 ET
Shares of software observability star Datadog (NASDAQ: DDOG) soared 43.1% in November, according to data from S&P Global Market Intelligence .
The company, which makes software that enables businesses to maintain and track the performance of all its software apps, reported earnings toward the end of the month that blew past expectations. Management also guided for strong growth in the current quarter.
In addition, a couple of lower-than-expected inflation reports helped bring interest rates down, aiding the fortunes of a high-growth technology stocks.
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Why Datadog Soared Over 43% in November