MongoDB, Datadog Shares Are Moving Higher: What's Going On?

Vaishali Prayag

November 21, 2024

MongoDB Inc. (NASDAQ:MDB) and Datadog Inc. (NASDAQ:DDOG) shares are trading higher Thursday. Several software names jumped following Snowflake Inc.‘s (NYSE:SNOW) strong earnings report and optimistic guidance. Here’s what you need to know.

What To Know: Snowflake exceeded analyst expectations in the third quarter, reporting $942.09 million in revenue, above the forecasted $896.99 million. Adjusted earnings came in at 20 cents per share, beating the estimate of 15 cents per share, according to Benzinga Pro.

Product revenue totaled $900.3 million, up 29% year-over-year. Snowflake guided for fourth-quarter product revenue in the range of $906 million to $911 million, and raised its full-year product revenue outlook from $3.356 billion to $3.43 billion, representing 29% year-over-year growth.

“Our obsessive drive to produce product cohesion and ease of use has built Snowflake into the easiest and most cost-effective enterprise data platform,” said Sridhar Ramaswamy, CEO of Snowflake.

See Also: Alphabet Bleeds Over $120 Billion In Market Value, Eyes Worst Day In 10 Months After DOJ Demands Google Chrome Sale

Snowflake's results appear to have sparked optimism around growing enterprise adoption of AI-powered data solutions, supported by the company’s acquisition of Datavolo and multi-year partnership with Anthropic. Such has led to optimism across the data and cloud services sector, benefiting MongoDB and Datadog, among others.

MongoDB, known for its NoSQL database solutions, is a key player in managing enterprise data, which remains critical for businesses leveraging AI and cloud-based tools. Datadog, a monitoring and analytics platform for cloud applications, complements this ecosystem by providing insights into system performance and reliability. Cloud data providers are seen as integral to the broader data infrastructure required by enterprises adopting advanced analytics and AI-driven workflows.

MDB, DDOG Price Action: At publication time, MongoDB shares were up 14.9% at $323.77 and Datadog shares were up 7.27% at $145.29, according to Benzinga Pro.

Image via Shutterstock.

Recommended

Sam Altman, Bill Gates and More Are Making Some Strange Investments - Ad

Elon Musk: "AI Will Run Out of Electricity ... in 2025" - Ad

Why Trump's Victory Could Fuel the Next AI Surge - Ad

HONG KONG (AP) — The of prominent Hong Kong activist publisher Jimmy Lai resumes Wednesday, with the founder of the now-shuttered pro-democracy newspaper Apple Daily expected to testify in his defense soon.

Pakistan's top cleric says use of VPNs is against Islamic laws as the government seeks to ban them

ISLAMABAD (AP) — Pakistan's top body of clerics has declared the use of virtual private networks, or VPNs, against Islamic laws, officials said Monday, as the Ministry of Interior sought a ban on the service that helps people in countries with tight .

Wall Street Legend Issues Inauguration Buy Alert

Wall Street Legend Issues Inauguration Buy Alert - Ad

If you've underperformed this raging bull market, if you've lost money or missed out... this is your final chance to potentially profit.

Trump's treasury pick could give an indication of what he plans to do about tariffs

WASHINGTON (AP) — President-elect Donald Trump’s decision on a treasury secretary is about far more than whose name will be printed on America’s money.

SpaceX To Launch Tender Offer, Valuing Company At Over $250 Billion: Report

SpaceX, under the leadership of Elon Musk, is reportedly preparing to initiate a tender offer next month.

Single Stock Blueprint Available Now

Single Stock Blueprint Available Now - Ad

Market Wizard Larry Benedict is one of the most successful traders you'll ever meet...But he doesn't make money the traditional way. In short: It's a way to trade just one stock...And potentially make all the money you need to fast-track your retirement -- no matter what happens in the stock market.

Chinese hackers target Tibetan websites in malware attack, cybersecurity group says

BANGKOK (AP) — A hacking group that is believed to be has compromised two websites with ties to the Tibetan community in an attack meant to install malware on users' computers, according to findings released Wednesday by a private cybersecurity firm.

Austria says Russia's Gazprom will cut off natural gas supply this weekend

VIENNA (AP) — Russia’s state-owned natural gas company Gazrom will cut off supplies to Austria’s OMV utility early Saturday, Austria’s chancellor said, adding that his country’s underground gas storage was full and that it had alternative, non-Russia supplies.

Elon Musk: "This Is the Most Destructive Force in History"

Elon Musk: "This Is the Most Destructive Force in History" - Ad

Elon Musk claims a terrifying new economic force will put millions of Americans out of work. The ripple effects could nudge the US economy into a catastrophic tailspin. If this happens, you need to be prepared. That's why a former Trump advisor is sharing his contingency plan with the public. What is Musk talking about?

Businesses at struggling corner where George Floyd was killed sue Minneapolis

MINNEAPOLIS (AP) — Several business owners at the struggling corner where by a Minneapolis police officer in 2020 are suing the city to demand it take over their properties and compensate them.

Wall Street's Most Accurate Analysts Give Their Take On 3 Tech And Telecom Stocks With Over 4% Dividend Yields

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks.

Apple's AI Dream Team: The Companies You Don't Know

Apple's AI Dream Team: The Companies You Don't Know - Ad

Apple's debut AI device is set to redefine the market, but here's the twist -- they could be backed by a network of under-the-radar companies. These could be the real winners as Apple enters the AI race.

Alaska political leaders hope to see Trump undo restrictions on oil drilling

JUNEAU, Alaska (AP) — President-elect Donald Trump during his campaign to expand oil drilling in the U.S., which is good news for political leaders in Alaska, where oil is the economic lifeblood and many felt the Biden administration has obstructed efforts to boost the state's diminished production.

Mike Tyson Discloses Near-Death Experience Before Jake Paul Fight

In a shocking revelation, boxing legend Mike Tyson disclosed that he had a near-death experience just months before his fight with Jake Paul.

The Dark Truth About AI Stocks

The Dark Truth About AI Stocks - Ad

All the signs show the AI market is about to reverse. And unless you know what's really going on in this sector, you could be wiped out. Inside this new expose, you'll discover exactly how the AI crisis will unfold... how you can prepare for it before it's too late... and how you can potentially profit from it, too.

Advance Auto Parts is closing hundreds of stores in an effort to turn its business around

NEW YORK (AP) — is closing more than 500 stores and shedding another 200 independent locations as part of its efforts to revive its struggling business.

Man who stole and laundered roughly $1B in bitcoin is sentenced to 5 years in prison

WASHINGTON (AP) — A computer expert who stole worth billions of dollars at current prices — and then spent years laundering some of the hacked cryptocurrency with help from his wife — was sentenced on Thursday to five years in prison.

Shocking Footage from Bill Gates' $100 Billion AI Project

Shocking Footage from Bill Gates' $100 Billion AI Project - Ad

Jeff Brown flew to Wisconsin to witness Bill Gates' $100 billion AI project firsthand. What he uncovered will blow your mind!

Company affiliated with Alex Jones seeks to disqualify The Onion's auction bid on Infowars

A company affiliated with conspiracy theorist asked a federal judge on Monday to disqualify a bid by the satirical news outlet The Onion at a bankruptcy auction, alleging fraud and collusion.

Financial Crime Weekly: Darknet Money Laundering, Crypto Scams, Invesco Pays $17.5M SEC Penalty

Man Sentenced To 12 ½ Years For Bitcoin Money Laundering On The Darknet

Elon Musk Wants Uranium... But This $3 Million Miner Could Beat Him to It!

Elon Musk Wants Uranium... But This $3 Million Miner Could Beat Him to It! - Ad

While tech giants like Elon Musk are pouring billions into nuclear energy, a tiny firm selling for less than $1 has quietly secured land in Canada holding some of the richest uranium deposits ever discovered. With energy demand skyrocketing, this tiny company could soon make big waves in the market.

New Jersey internet gambling sets another revenue record at $213 million

ATLANTIC CITY, N.J. (AP) — New Jersey's internet gambling market set another record in October, the latest proof that people are betting more of their money online rather than coming to Atlantic City to gamble it in person.

Lucid Recalls Over 1500 Units Of Air Sedan Over Loss Of Drive Power Concerns

Lucid is recalling 1,539 Air sedans in the U.S. citing concerns about loss of drive power, the NHTSA said.

24/7 Automated Profits in Crypto

24/7 Automated Profits in Crypto - Ad

All key indicators are flashing the same signal: an altcoin season is fast approaching. Access this exclusive workshop for early access to their next set of altcoin picks, a step-by-step blueprint for finding the next big altcoin winners, and a sneak peak at their crypto trading system with a 90% win rate.

Iraq launches its first national census in nearly four decades

BAGHDAD (AP) — Iraq began its first nationwide population census in decades Wednesday, a step aimed at modernizing data collection and planning in a country long impacted by conflict and political divisions.

French farmers mobilize for protests over EU-Mercosur trade deal

PARIS (AP) — French farmers are mobilizing for widespread protests called Monday targeting the They argue the deal threatens their livelihoods by allowing a surge of South American agricultural imports produced under less stringent environmental standards.

Our No. 1 Defense Stock to Own Right Now

Our No. 1 Defense Stock to Own Right Now - Ad

In multiple wargames, U.S. forces were overwhelmed and unable to stop Chinese amphibious assaults from seizing the island. With tensions at a boiling point, the economic fallout could be devastating. Get the details on the weapons makers set to boom if war breaks out.

CVS Health bulks its board up to 16 members, adds hedge fund CEO

CVS Health has added four new board members, including the CEO of a hedge fund that has been critical of the .

Swiss esports event canceled after 3 squads pull out over host team founder's anti-abortion comment

GENEVA (AP) — An event billed as Switzerland's biggest esports competition has been canceled after the host team's founder posted an anti-abortion comment on social media, triggering outrage that led three rival squads to pull out.

This Weight Loss Drug Loophole Is Set to Make Investors Incredibly Wealthy

This Weight Loss Drug Loophole Is Set to Make Investors Incredibly Wealthy - Ad

Thanks to this rare FDA loophole, the world's most in-demand weight loss drugs have effectively just gone "off patent" for a short amount of time... Creating a once-in-a-lifetime profit window for investors.

Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom

Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue.

The right book can inspire the young readers in your life, from picture books to YA novels

It's , but that doesn't have to mean waiting in long lines for big sales to buy the hottest toy or newest game system. Whether you're a parent, relative, teacher, librarian or just a friend to a young person, that you can enjoy together.

Have You Heard of Donald Trump's Project Crypto?

Have You Heard of Donald Trump's Project Crypto? - Ad

Donald Trump aims to be America's first crypto president. Declaring at the Bitcoin conference in Nashville that the U.S. would become ..."the crypto capital of the planet." But, there's a special coin he hasn't mentioned that could soar even higher.

What to stream: 'The Piano Lesson,' 'Wicked' album, 'Spellbound' and 'Cruel Intentions' TV series

Ariana Grande and Cynthia Erivo teaming up for the soundtrack to the upcoming movie “Wicked” and a TV series based on the 1999 film “Cruel Intentions” are some of the new television, films, music and games near you.

For nearly a decade, climate talks have been hashing out so-called Article 6. But what is it?

BAKU, Azerbaijan (AP) — After nearly a decade of negotiations, leaders during the United Nations climate conference's first day decided on some of the finer points of much-debated sticking point aimed at cutting planet-warming emissions from coal, oil and gas.

[Breaking] Classified Wargames Reveal Grave Threat From China

[Breaking] Classified Wargames Reveal Grave Threat From China - Ad

Journalists strike in Greece ahead of a nationwide walkout on Wednesday

ATHENS, Greece (AP) — Journalist unions in Greece launched a 24-hour strike Tuesday, joining broader labor unrest ahead of a nationwide general strike planned for Wednesday. Public and many private media outlets across the country, including print, broadcast, and online platforms, halted operations in solidarity with demands for better wages. Unions are demanding that the conservative government fully restore collective bargaining rights that were scaled back during a 2010-18 financial crisis and successive international bailouts. The country has since returned to healthy growth and investment

General Motors lays off about 1,000 workers, cutting costs to compete in a crowded automobile market

DETROIT (AP) — General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.

Porter Stansberry Warns: Nvidia Shares Could Drop By 50%

Porter Stansberry Warns: Nvidia Shares Could Drop By 50% - Ad

It happened in 2000... it happened in 2008... it happened in 2021... and now... the great NVIDIA collapse of 2024 is coming. In this new exposé, Porter Stansberry reveals why the tech giant is poised to topple...

Starting a small business is hard. Exiting can be even harder, but planning early is the key

NEW YORK (AP) — Starting a small business is hard. Figuring out what to do with a small business when an owner is ready to retire can be even more difficult.

Trending Now

The Real Hillbilly Elegy - Ad

Super Micro Computer, Moderna And XPeng Were Among Top 10 Large Cap Stocks Losing Big Last Week (November 11-15): Check Out Other Losers

Christie On Trump's Cannabis Plans, Elon Musk's New Role In Trump Team, Pentagon Overhaul Plans And More: This Week In Politics

US Stocks Likely To Open In Red Amid Mounting Geopolitical Tensions: Wharton Economist Says Market Trajectory Will 'Heavily Depend' On Trump's Tariff Plans