That’s a jarring multiple to behold: it’s a richer multiple of revenue than the S&P 500 is trading as a multiple of GAAP earnings, which is my usual and simple barometer of telling when valuations have gotten very discordant. There’s only one stock in the software sector that trades at an even bigger premium than Datadog, and that’s Snowflake (SNOW), which currently commands a
The bottom line here: Datadog has remained the same kind of story as ever: high price for high performance. That strategy did fine in 2021, but won’t be so successful in 2022. Steer clear here and invest elsewhere.
Datadog’s outlook for Q4 proved equally impressive. As shown in the snapshot below, the company is guiding to revenue of $290-$292 million, a range that represents 63-65% y/y growth:
Datadog, for investors who are unfamiliar with the name, is a monitoring and analytics company. Its backend software allows IT departments to check the health of internal systems, maintain performance, and discover any abnormalities in the network. It was an upstart in the space, competing against a much larger competitor New Relic (NEWR) – but in only a few years’ time, Datadog has unseated New Relic to become the largest vendor in the infrastructure/application monitoring space and is also still the fastest growing.
The descent for Canadian marijuana stocks continued last year, as expectations dimmed for cannabis reform in the U.S.
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