12 AI News and Ratings You Should Not Miss

3. Datadog, Inc. (NASDAQ:DDOG)

Number of Hedge Fund Holders: 79

Datadog, Inc. (NASDAQ:DDOG) offers a cloud-based monitoring and analytics program. The enterprise software leader is a player in artificial intelligence offering expertise in cloud computing as well as AI-powered cybersecurity products.

On November 7, Reuters reported that Datadog, Inc. (NASDAQ:DDOG) has raised its annual revenue and profit forecasts on the back of accelerating demand for its artificial intelligence-driven cybersecurity products. A large number of Datadog customers are deploying their AI apps in live production, boosting the usage of its products. Moreover, more businesses are expected to move to Cloud, a good sign for companies such as Datadog, since the AI applications run on it. The company raised its full-year revenue forecast to about $2.66 billion, compared to its earlier expectation of between $2.62 billion and $2.63 billion. Meanwhile, analysts were expecting revenue of $2.63 billion. Furthermore, it sees adjusted profit between $1.75 and $1.77 per share for the full year, compared to $1.62 to $1.66 per share previously.

“Datadog reported very strong results and guided for further impressive growth, some of it driven by AI applications. Shares are up significantly over the last few weeks as investors had very high expectations, which may be leading to some volatility in trading today”.

-Gil Luria, analyst, D.A. Davidson & Co.