The Datadog rise is being displayed on age some of the AWS Height Seoul 2024 on the COEX Conference and Exhibition Middle in Seoul, South Korea, on Might 16, 2024.
Chris Jung | Nurphoto | Getty Photographs
Datadog stocks had been up 10% in prolonged buying and selling on Wednesday nearest S&P World mentioned the tracking tool supplier will substitute Juniper Networks within the S&P 500 U.S. book index.
S&P World is making the alternate efficient ahead of the start of buying and selling on July 9, in keeping with a statement.
Laptop server maker Hewlett Packard Endeavor, additionally a quality of the index, mentioned previous on Wednesday that it had finished its acquisition of Juniper, which makes information middle networking {hardware}. HPE disclosed in a filing that it paid $13.4 billion to Juniper shareholders.
Over the weekend, the 2 corporations reached a settlement with the U.S. Justice Section, which had sued towards the offer. As a part of the agreement, HPE yes to divest its international Quick On campus and area industry.
Presen tech already makes up an oversized portion of the S&P 500, the index has has been often lifting its publicity because the trade expands into extra grounds of nation.
DoorDash used to be the unedited tech corporate to fasten all over the ultimate rebalancing in March. Cloud tool supplier Workday used to be added in December, and that used to be preceded previous in 2024 with the additions of Palantir, Dell, CrowdStrike, GoDaddy and Tremendous Micro Laptop.
Shares ceaselessly rally once they’re added to a big index, as treasure managers wish to rebalance their portfolios to replicate the adjustments.
Unused York-based Datadog went people in 2019. The corporate generated $24.6 million in internet source of revenue on $761.6 million in earnings within the first quarter of 2025, in keeping with a observation. Competition come with Cisco, which purchased Splunk ultimate time, in addition to Elastic and cloud infrastructure suppliers reminiscent of Amazon and Microsoft.
Datadog has underperformed the wider tech sector thus far this time. The book used to be i’m sick 5.5% as of Wednesday’s near, month the Nasdaq used to be up 5.6%. Nonetheless, with a marketplace cap of $46.6 billion, Datadog’s valuation is considerably upper than the median for that index.
— CNBC’s Ari Levy contributed to this file.
CNBC: Datadog CEO Olivier Pomel at the cloud computing outlook
