5 Best Aggressive Stocks to Buy Now

2. Datadog, Inc. (NASDAQ:DDOG)

Number of Hedge Fund Holders: 74   

Datadog, Inc. (NASDAQ:DDOG) provides a monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. On November 3, Datadog announced that it acquired Cloudcraft, a visualization service to create real-time diagrams of cloud infrastructures. The company plans to continue offering Cloudcraft to existing and new customers, and enhance its capabilities by integrating with the Datadog platform.

On November 4, Baird analyst William Power maintained an Outperform rating on Datadog, Inc. (NASDAQ:DDOG) stock and lowered the price target to $100 from $120, noting that the revenue beat of the firm was slightly below recent trends due to macro impacts within consumer discretionary and larger customer usage.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Tiger Global Management LLC is a leading shareholder in Datadog, Inc. (NASDAQ:DDOG) with 5.8 million shares worth more than $512.7 million. 

In its Q3 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Datadog, Inc. (NASDAQ:DDOG) was one of them. Here is what the fund said:

“Similarly, we continued scaling up our investment in Datadog, Inc. (NASDAQ:DDOG), recognizing significant opportunities for the long term, while the majority of investors remain preoccupied with the here and now. While the company may see some short-term headwinds to growth (the company reported seeing some impact to its volume-driven logs and Application Performance Management modules), long-term prospects remain bright, in our view. Datadog reported a best-in-class gross retention rate in the “mid-to-high 90s%,” 74% year-over-year revenue growth, and 21% adjusted operating margins.”