Earnings

Datadog soars to record with cloud stocks Cloudflare and Asana

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The highest-valued cloud stocks have been on a tear of late and just got a further boost from data analytics and monitoring company Datadog, whose results blew past analysts’ estimates.

Datadog shares jumped 15% on Thursday to close at a record $132.47. Heading into the day, Datadog traded for about 32 times revenue over the next year, making it one of the eight priciest cloud stocks by that metric, according to the Bessemer Venture Partners Cloud Index.

Of the nine stock that trade at 30 times forward sales, Datadog and four others closed at all-time highs on Thursday.

Bill.com, a financial software vendor, rose 1.4% to $208.92. Asana, which sells collaboration software, jumped 7.1% to…



Source cnbc.com

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