Datadog earnings and guidance boost stock for best day yet

Shares of cloud monitoring software firm Datadog soared 28% on Tuesday, their best day ever, after the company reported stronger-than-expected third-quarter earnings and full-year guidance.

The company reported quarterly revenue of $547.5 million, up 25% year over year, topping estimates. That growth rate was consistent with results in the second quarter. Analysts surveyed by LSEG, formerly known as Refinitiv, had expected revenue of $524.1 million. Adjusted earnings per share came out to 45 cents, better than the 34 cents analysts expected.

Datadog also bumped up…