Datadog (NASDAQ:DDOG) has been a bit on the quiet side lately, but it’s gaining some new ground with its latest effort. It’s teamed up with JFrog (NASDAQ:FROG) in a bid to produce some new developer tools, and that was enough to send Datadog up fractionally in Thursday afternoon’s trading.
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The new coalition effort will ultimately allow Datadog users to better prioritize certain logs for analysis, particularly the ones that are most important. That’s going to make for a more efficient and effective analysis overall and likely get those interested in cloud-based security operations to bring in Datadog.
With 85% of organizations set to adopt a “cloud-first strategy” by 2025, according to a report from Gartner, and 95% of new digital workloads expected to hit cloud-first platforms, that presents an opportunity for Datadog to step in and protect all that work.
Is Datadog a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on DDOG stock based on 22 Buys and eight Holds assigned in the past three months, as indicated by the graphic below. After a 31.46% rally in its share price over the past year, the average DDOG price target of $147.22 per share implies 20.43% upside potential.
Is It Wise to Allocate $1,000 Toward DDOG Stock Right Now?
Before you hurry to invest in DDOG, think about the following:
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