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Snowflake shares were gaining ground Wednesday after the cloud data warehouse software company posted better-than-expected results for the quarter ended Oct. 31.
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Tag: DDOG
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Datadog Stock Skyrockets 30% on Upbeat Outlook and Customer Growth
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[ad_2]Datadog stock surged Tuesday after the security software provider generated more profit than expected in the quarter and raised its sales outlook for the full year.
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DDOG Stock Price | Datadog Inc. Cl A Stock Quote (U.S.: Nasdaq) | MarketWatch
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Datadog Inc. Cl A
Datadog, Inc. engages in the development of a monitoring and analytics platform for developers, information technology operations teams and business users. Its platform integrates and automates infrastructure monitoring, application performance monitoring and log management to provide real-time observability of its customers’ entire technology stack. The company was founded by Olivier Pomel and Alexis Lê-Quôc on June 4, 2010, and is headquartered in New York, NY.
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These 20 growth stocks are worth considering on a pullback, says Citi
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Citi has released a list of 20 large-cap growth stocks that it says present opportunities in the event of a pullback.
“Our call since early summer has been to hold Growth and look to buy on pullbacks,” Citi analyst Scott Chronert said in a note released Monday, adding that Citi has had a tactical preference for cyclicals. “However, on the heels of the strong Cyclicals surge during June and July, and our upwardly revised S&P 500 target of 4600, the messaging has been to buy on pullbacks more broadly,” he wrote.
Citi also notes that the Russell 1000 Growth Index
RLG
has sold off more than 6% from its mid-July high, although two-thirds of the stocks in the index are down 10% or more, with one-third down more than 20%. “This sets up for interesting intermediate to long-term stock selection opportunities,” Chronert said.Related: Preorders for the iPhone 15 have begun, and here’s a sign they’ve been ‘solid’
The analyst acknowledged that there is still a risk of economic softening ahead, if not a recession. “Yet, the argument that Growth stocks can show fundamental resilience during periods of broader economic weakening is a theme that we have considered for several years now,” he said.
Set against this backdrop, the analyst firm has compiled a tech-heavy list of 20 stocks that have a buy rating from Citi, have at least 75% of market cap assigned to growth, according to Russell, and have experienced a decline of 10% or more from year-to-date highs since March 31. Other common characteristics of the stocks include consensus estimates of free cash flow per share above March 31 levels and free cash flow per share within or above market-implied five-year-forward estimates.
Tech heavyweights Apple Inc.
AAPL,
+0.74%
and NVIDIA Corp.
NVDA,
+1.47%
are on the list, along with Pinterest Inc.
PINS,
-2.47% ,
Lam Research Corp.
LRCX,
+0.24% ,
Teradata Corp.
TDC,
+0.36% ,
Datadog Inc.
DDOG,
+0.09% ,
MongoDB Inc.
MDB,
-0.73% ,
HubSpot Inc.
HUBS,
+0.18%
and KLA Corp.
KLAC,
+0.79% .
The other stocks cited by Citi are Lockheed Martin Corp.
LMT,
-0.18% ,
DraftKings Inc.
DKNG,
-1.44% ,
Las Vegas Sands Corp.
LVS,
-0.98% ,
Chipotle Mexican Grill Inc.
CMG,
-0.85% ,
Netflix Inc.
NFLX,
+1.31% ,
TKO Group Holdings Inc.
TKO,
-1.93% ,
Rockwell Automation Inc.
ROK,
+1.09%
and Paycom Software Inc.
PAYC,
+0.45% ,
and healthcare stocks Bruker Corp.
BRKR,
+1.04% ,
Insulet Corp.
PODD,
-0.66%
and Intuitive Surgical Inc.
ISRG,
+1.75% .Related: Will Nvidia stock be like Apple or Cisco in the AI era?
Shares of Apple, which recently launched its iPhone 15, are down 5.5% in the last three months. Shares of chip maker NVIDIA are up 2.8% over the same period, while Lockheed Martin is down 8.9% and DraftKings is up 8.6%. Las Vegas Sands is down 21.8% and Chipotle is down 8.8%, while Netflix is down 7.8%.
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For Long-Term Investors, It’s Time to Buy Tech Again. Here Are 20 Stocks to Look at First.
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One cruel truth the stock market confirmed this past week is that trying to pick the bottom for technology stocks is a fool’s errand. The Nasdaq Composite’s terrible September—it was down 10.5% on the month—has made the bottom-fishing that took place over the summer look ill-advised. As I’ve noted before, the first downturn in tech earlier this year was all about valuations. This new phase of the decline is all about softening earnings. When it comes to price-to-earnings ratios, the market is running into a denominator problem.
The market downturn, the weaker economy, and the reversal of some pandemic-era trends have exposed weaknesses in the business models of companies such as
Peloton Interactive
(ticker: PTON),
Zoom Video Communications
(ZM),
Shopify
(SHOP),
Affirm Holdings
(AFRM), and
Snap
(SNAP), and investors have adjusted valuations accordingly. But there are still some powerful underlying secular trends that should eventually drive tech stocks higher. Investors with long time horizons and strong stomachs might consider inching into the market. I have a few ideas on where to look.[ad_2]
