Why Datadog, Snowflake, and Other Cloud Stocks Rallied on Friday
Datadog(DDOG) The Motley Fool·2024-02-09 20:33One of the hallmarks of the recent economic downturn was a pause in the digital transformation, marked by a dramatic pullback in cloud spending, as companies turned to cloud optimization in an effort to more efficiently use their existing services. The financial results released by one company today suggest that customers are beginning to pile back into cloud services, which could mark the end of a historic dry spell.As of 2:56 p.m. ET on Friday, Datadog (DDOG 2.97%) stock had risen 3.6%, Snowflake (SNOW 4. ...