3 Growing Tech Stocks In Buy And Hold Position - Datadog

2- Datadog

The platform offered by Datadog enables IT (Information Technology) experts to monitor their software and service performances on unified dashboards. In the past, IT professionals often followed these applications separately on different hardware and software platforms, and this is a very tedious and error-prone method. More than 400 software platforms, including Amazon Web Services and Microsoft Azure, now offer native support for Datadog's services. Datadog's revenue increased by 66 percent in fiscal year 2020 to $ 603.5 million. The company, which maintained its net holding rate for 14 quarters, remained above 130 percent.

Datadog's indicators are reflected in other growth measures!

By the end of 2020, 22 percent of their customers were using four or more of their services, more than 10 percent compared to the previous year. The number of customers contributing more than $ 100,000 in annual recurring revenue (ARR) rose by 46 percent in 2020 to 1,253. This increased the number of customers who contributed over $ 1 million in total, to 50, up 94 percent. Datadog posted an adjusted net profit of $ 71.6 million for the full year, or $ 0.22 per share, compared to a net loss of $ 471,000 in 2019. The company expects revenue to increase by 37 to 39 percent in fiscal year 2021, adjusted earnings to drop to 36 to 55 percent, and increase investments by integrating two acquisitions. Datadog's stock is 25 times more than next year's sales and not cheap, but it probably justifies this high price-to-sell ratio with its silo-busting technology.   You may also be interested in: 3 Growing Tech Stocks In Buy And Hold Position - Twilio