Jim Cramer’s Bold Predictions About These 15 AI Stocks

11. Datadog, Inc. (NASDAQ:DDOG)

Number of Hedge Fund Holders In Q3 2024: 71

Date of Cramer’s Comments: 8-19-24

Performance Since Then: 24.55%

Datadog, Inc. (NASDAQ:DDOG) is a SaaS company that provides cloud observability and analytics products and services. It is among the category of firms that enable AI software firms to monitor their software tools. Datadog, Inc. (NASDAQ:DDOG) provides AI-based products such as a DevOps copilot which enables threat detection and monitoring across web, mobile, and other platforms. The firm’s shares are up by 26.9% year-to-date, and AI demand appears to be materializing in its income statement as well. Datadog, Inc. (NASDAQ:DDOG) now expects to earn $2.66 billion in full-year revenue, a jump over the earlier midpoint of $2.625 billion. The firm also benefits from the ongoing shift to cloud computing which increases the demand for its products. Cramer urged some caution for Datadog, Inc. (NASDAQ:DDOG) in August:

“Datadog is usually a fabulous company. There were people trying to buy it for $20 billion before it ever went public. My problem is that it’s just the definition of enterprise software—the kind of analytics that tells you how your company’s doing. There are too many players in that space, Dave. So I’m going to reiterate: I don’t trust it yet, but it is a very good company. And thank you for the question.”