Why did Datadog stock jump up today? Investors surge into cloud name
Just_Super/E+ via Getty Images
Datadog (NASDAQ:DDOG) shares surged more than 8% on Wednesday as investors continued to pile into the cloud software provider.
More than 10.9M shares of Datadog (DDOG) changed hands, nearly twice the average daily volume of just over 5.47M shares.
Last week, the cloud software provider posted first-quarter results that handily topped expectations and raised its full-year earnings outlook.
For the period ending March 31, Datadog (DDOG) earned an adjusted 28 cents per share as revenue rose 32.8% year-over-year to $482M. Analysts were expecting an adjusted gain of 24 cents per share and $469M in sales.
In addition to the strong results, Datadog (DDOG) boosted its full-year outlook, as it now expects to generate between $2.08B and $2.1B in sales, up from a previous guidance of $2.07B to $2.09B.
It also now expects adjusted earnings to be between $1.13 and $1.20 per share, up from a prior view of $1.02 to $1.09 per share.
Datadog (DDOG) also issued second-quarter guidance, as it expects sales to be between $498M and $502M, with the mid-point slightly below the consensus of $500.94M.
More on Datadog and cloud computing

Datadog rises even as Piper Sandler sees 'little room for upside'
Snowflake, Datadog, MongoDB could see 'fresh headline risks' from hyperscalers
Snowflake jumps as Stifel sees signs cloud headwinds may be 'stabilizing'