5 Best Stocks to Buy for 2022 According to Analysts

1. Datadog, Inc. (NASDAQ:DDOG)

Number of Hedge Fund Holders: 62     

Datadog, Inc. (NASDAQ:DDOG) owns and runs a monitoring and analytics platform for developers. Analysts view the pace with which the company innovates and deploys new products for enterprise clients as a big plus, backing it to take advantage of the increased spending on migrations to the cloud in the coming months. 

Datadog, Inc. (NASDAQ:DDOG) posted earnings for the third quarter on November 4, reporting earnings per share of $0.13, beating estimates by $0.07. The revenue over the period was $270 million, up close to 75% year-on-year. 

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 5.2 million shares worth more than $740 million. 

In its Q1 2021 investor letter, Artisan Partners Limited Partnership, an asset management firm, highlighted a few stocks and Datadog, Inc. (NASDAQ:DDOG) was one of them. Here is what the fund said:

“We also added to Datadog. Shares of Datadog retreated in Q1 in sympathy with the broader information technology sector. However, the company remains on solid fundamental footing, recently setting a quarterly record for net new customer additions. Datadog’s cloud solutions fill a void left by legacy tools built for on-premise IT infrastructures, enabling it to take share in an underpenetrated, large addressable market. We believe the company’s low-touch land-and-expand customer acquisition model, combined with a steady expanding product portfolio, position it well for strong profit and cash flow growth in the coming years.”

You can also take a peek at 10 Stocks that Helped Warren Buffett Make $4.6 Billion in Dividends and 10 Best Dividend Stocks with Over 5% Yield According to Hedge Funds.

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