On Monday, Datadog stock hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history reveals that the best stocks often have an RS Rating of above 80 as they begin their biggest runs.
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Is Datadog Stock A Buy?
The IBD Sector Leaders stock is building a consolidation with a 118.02 buy point. See if Datadog stock can break out in heavy trading. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
While sales growth fell last quarter from 33% to 25%, EPS grew 50%, up from 17% in the prior report. Look for the next report on or around Nov. 14.
Datadog stock holds the No. 7 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies and Workday are also among the group's highest-rated stocks.
