On Thursday, Datadog reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before.
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This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
History shows that the best stocks tend to have an RS Rating of at least 80 in the early stages of their moves.
Is Datadog Stock A Buy?
Datadog stock is still within a buy zone after moving past a 157.38 entry in a consolidation. Once a stock moves 5% or higher beyond the initial entry, it's considered extended and out of buy range.
The cloud monitoring platform saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 5% to 7%. Revenue rose from 25% to 28%. The company is expected to report its latest results on or around Oct. 30.
Datadog stock holds the No. 6 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, Snowflake and Cloudflare are among the top 5 highly rated stocks within the group.
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