The Newest Stock in the S&P 500 Has Soared 315% Since Its 2019 IPO, and It's a Buy Right Now, According to Wall Street

The S&P 500 is widely regarded as the most comprehensive gauge of the U.S. stock market, made up of the 500 leading publicly traded companies in the country. Given the extensive reach of the businesses that comprise the index, it is hailed as the most reliable benchmark of overall stock market performance. To be considered for admission to the S&P 500, a company must meet the following criteria:Datadog (NASDAQ: DDOG) is the latest addition to the S&P 500, scheduled to join the benchmark on July 9. That makes it one of only five companies to make the cut so far this year. Since its initial public offering (IPO) in late 2019, Datadog has soundly thrashed the market, generating gains of 315%, compared to just 109% for the S&P 500 (as of this writing). The stock price gains have been fueled by its robust underlying fundamentals, as its revenue has jumped 694% and net income has soared 2,670%.Yet, despite the stock's impressive performance and the company's strong track record of growth, many believe the runway ahead is long for Datadog. Let's examine the opportunity ahead and why Wall Street considers the stock a strong buy despite its premium valuation.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool