Datadog ( NASDAQ:DDOG )
On November 3rd, before the market opens, Datadog ( NASDAQ: DDOG ) will release its quarterly financial results .
The cloud computing firm reported a tremendous second quarter but a muted prognosis for the third quarter, citing worse trends in some industries, including consumer discretionary spending.
Within hours, investment companies Monness, Crespi, and Hardt downgraded the Datadog stock. It warned that the “conservative” advice might be the beginning of a trend.
Recently, however, after significant investments in its technological platform, Canaccord Genuity upgraded the networking security firm’s stock.
The management has acknowledged that there may be headwinds in the market. Many new products under its unified technology platform are still in beta testing and not yet ready.
With a rising total addressable market and price and product advantages over rivals, Wells Fargo analyst Andrew Nowinski awarded excellent business grades and an overweight rating, calling it “a unicorn in software.”
Datadog stock was recognized as a “Top Idea” by Credit Suisse for its monitoring and security solutions and its ambitions to grow into other sectors, including application and cloud security.
In the last three months, earnings per share forecasts have been revised 10 times upwards and 5 times downwards. There have been 12 positive changes in revenue forecast...
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