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Investors Business Daily
Investors Business Daily
Technology
RYAN DEFFENBAUGH

Datadog Stock Breaks Out From New Buy Point

Datadog DDOG IBD

DDOG stock closed higher Thursday, with the movement pushing shares of enterprise software company Datadog past a buy point.

Datadog, Wednesday's IBD Stock Of The Day, rose 2.9% to 120.65 on the stock market today. That's after climbing 2.2% on Wednesday.

DDOG stock cleared a high handle on a cup base, with a 120.26 buy point. Shares had already flashed an early entry Thursday morning from breaking a downtrend of the handle.

DDOG Stock: Up 59% This Year

New York-based Datadog sells software that monitors applications running on cloud-computing platforms. Datadog shares have gained 59% this year.

Datadog stock urged on a strong earnings report last month.

Meanwhile, Datadog shares are trading well above the 50-day moving average.

Further, DDOG stock ranks first among 127 stocks in IBD's software-enterprise industry group, according to IBD Stock Checkup.

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