12/28/2023 0 Comments Should i buy splunk stockFor large-scale web-based applications, monitoring technology is critical to ensuring reliability while also getting a view into how data is flowing in real time. The increasing complexity of software infrastructure and the continued utilization of cloud services architectures has created consistently increasing demand for advanced software monitoring solutions. ![]() This should present a clear picture of its fundamental positioning and valuation in order to determine whether the stock is still a good buy at current prices.ĭatadog is currently the largest pure software observability player by market cap. This article will focus on relative financials between Datadog and its two main competitors in the software observability space. Here we can see that Datadog has performed roughly in line with Dynatrace this year, and that Splunk has been a notable laggard amongst the three. While other firms do participate in this market, such as Cisco (NASDAQ: CSCO) and Amazon (NASDAQ: AMZN), these 3 companies are the ones that are focused primarily on this market and with software observability as their defining core competency. ![]() Datadog makes most sense to compare to other publicly traded companies focused primarily on software monitoring/observability this includes Splunk (NASDAQ: SPLK ) and Dynatrace (NYSE: DT ). Of course, we must also consider how it has performed relative to its peers and not just the index at large. While not outperforming to the extent that it did throughout 2022, the stock’s price return has nonetheless maintained a premium above the index return throughout this time. Since its IPO in Q3 2019, it has generated a price return above the NASDAQ Composite. This is an extension of a history of outperformance from Datadog stock. After its latest earnings report, one in which it beat across both GAAP and non-GAAP metrics, DDOG stock has now climbed above the NASDAQ Composite in terms of YTD price return. Kira-Yan/iStock via Getty Images Overviewĭatadog ( NASDAQ: DDOG) is a leading software observability provider that continues to see momentum in its share price.
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