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.
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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