Yahoo Finance Datadog (DDOG) Attains AWS Security, Networking Competencies
Datadog DDOG recently accomplished Amazon AMZN-owned Amazon Web Services (AWS) Security, Networking and Retail competencies.
While AWS Security Competency certifies Datadog's deep technical expertise and proven customer success in securing every stage of cloud adoption, AWS Networking Competency recognizes Datadog as a software partner that enables customers to get deep visibility into networked services and applications across complex native, cloud and hybrid environments.
These latest competencies add to an already significant level of deep expertise with AWS that includes AWS Microsoft Workloads Competency, AWS DevOps Competency, AWS Government Competency and AWS Container Competency among others.
Earlier this year, Datadog entered into a strategic partnership with Amazon’s cloud division AWS. In the second quarter, the company achieved AWS Education Competency Status. This status recognizes Datadog’s demonstration of technical proficiency and success in building solutions that support mission-critical workloads of customers in the higher education, K-12 primary/secondary, research and publishing sectors.
DDOG’s focus on growing partnerships has increased the visibility of its cloud solutions among consumers, contributing to its business growth and customer base.
Datadog, Inc. Price and Consensus
Datadog, Inc. price-consensus-chart | Datadog, Inc. Quote
Datadog Rides on New Product Adoption, Strength in Partner Base
Datadog has been benefiting from the increased adoption of cloud-based monitoring and analytics platforms across the globe. This Zacks Rank #3 (Hold) company’s expanding portfolio of integrated solutions has been acting as a major catalyst in expanding its customer base. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The solid adoption of newer products, including Real User Monitoring, Synthetic Monitoring and Application Performance Monitoring, is expected to aid customer wins in the near term.
Datadog had more than 21,200 customers at the end of the second quarter, up from 16,400 in the year-ago quarter. Of these customers, 2,420 have an annual run rate (ARR) of $100K or more, up from 1,570 in the year-ago quarter. These customers generate about 85% of the total ARR.
As of the end of the second quarter, 79% of customers used two or more products, up from 75% in the year-ago quarter. Additionally, 37% of customers utilized four or more products, up from 28% in the year-ago quarter.
Contributions from a strong cloud partner base, including Alphabet’s GOOGL Google Cloud, Microsoft’s MSFT Azure and AWS, are expected to remain key growth drivers.
Last week, Datadog expanded monitoring for Microsoft Azure and SQL database platforms. In March, Datadog was chosen as a Microsoft partner within the Azure Cloud Adoption Framework. Previously, Datadog had a partnership with Microsoft, owing to which Datadog was available as a first-class service in the Azure console.
Per the Datadog-Microsoft partnership, Datadog will integrate its monitoring and security capabilities with Azure’s full suite of services, thus helping organizations accelerate their cloud adoption process.
Datadog has also extended its strategic partnership with Google Cloud. Datadog and Google Cloud extended this partnership from Europe, the Middle East and Africa (EMEA) to North America.
The extended partnership has made it easier for organizations to access and implement Datadog’s monitoring and security platform, allowing them to secure and optimize migrated and new workloads.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
Datadog, Inc. (DDOG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
