Datadog DDOG recently announced that he had been chosen as Microsoft MSFT Partner within Azure Cloud Adoption Framework.
Microsoft Azure is both a cloud computing platform and an online portal, allowing organizations to access and manage cloud services and resources provided by Microsoft.
As part of the Datadog-Microsoft partnership, Datadog will integrate its monitoring and security capabilities with Azure’s comprehensive suite of services, helping organizations accelerate their cloud adoption journey.
Previously, Datadog had an existing partnership with Microsoft, through which Datadog was available as a first-class service in the Azure console. This has enabled Azure customers to implement Datadog as a monitoring solution for their cloud workloads.
The partnership has also enabled Azure customers to leverage Datadog’s observability platform to drive modernization and cloud migration initiatives.
Datadog Benefits from Growing Partner Base and Expanding User Base
Datadog is steadily benefiting from the growing adoption of cloud-based monitoring and analytics platforms around the world, resulting from the acceleration of digital transformation and cloud migration in organizations.
DDOG witnessed a high demand environment for its cloud solutions in 2021 and continued to innovate at a rapid pace. Revenue for the last reported quarter was $326 million, up 84% year-over-year.
Earlier this year, Datadog entered into a strategic partnership with AmazonThe AMZN cloud division of Amazon Web Services (AWS).
Under the agreement, Datadog and AWS will develop and deliver closer product alignment going forward.
The strategic collaboration has opened up a marketing and co-selling program between Amazon and Datadog, providing new opportunities for consumers around the world.
Datadog, Inc. Pricing and Consensus
Price consensus chart from Datadog, Inc. | Datadog, Inc. Quote
Management also announced the extension of DDOG’s strategic partnership with Alphabetis GOOGL Google Cloud.
Datadog and Google Cloud have extended this relationship from Europe to 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, enabling them to secure and optimize migrated and new workloads.
In August 2021, Datadog announced the launch of Datadog Cloud Security Platform, adding a full-stack security context to its deep observability capabilities. Later last year, DDOG announced its availability on Google Cloud Marketplace, further strengthening its partnership with Google Cloud.
In late 2021, Datadog announced its integration with Confluent to provide deep visibility into the health and performance of Confluent Cloud users.
Previously, Confluent customers used its fully managed, cloud-native data streaming service to power digital experiences in real time, while avoiding the operational overhead of infrastructure management.
The Datadog integration gives customers real-time visibility into the health and operations of their Confluent resources, ensuring smoother experiences.
DDOG’s focus on growing partnerships has increased the visibility of its cloud solutions to consumers, which in turn has helped its business grow and led to a surge in customer numbers.
Over the past quarter, steady additions of customers have boosted revenue. Datadog had more than 18,800 customers at the end of Q4 2021, up from 14,200 in the prior year quarter.
At the end of Q4 2021, 78% of customers were using two or more products, up from 72% a year ago. Additionally, 33% of customers used four or more products, compared to 22% in the prior year quarter.
In recent times, businesses need to quickly embrace digital conversion. As a monitoring and security platform for cloud applications, DDOG has a strategic advantage and expects robust growth in the current fiscal year.
For the first quarter of 2022, Datadog forecasts revenue between $334 million and $339 million.
For 2022, Datadog forecasts revenue between $1.51 billion and $1.53 billion.
Currently, Datadog carries a Zacks rank #3 (Hold).
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