Datadog and Atlassian Stocks Lag Despite Growth Prospects
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The stock market has recovered from its bear market in 2022, reaching new highs in 2023-2024. However, some tech stocks remain far below their all-time highs from 2021.
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Datadog provides cloud monitoring services and recently introduced AI tools to help companies get more value from its platform. Its stock is down 35% from its all-time high.
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Atlassian makes popular collaboration software like Jira and Confluence. It recently added AI features to these products and acquired video platform Loom. Its stock is down 57% from its peak.
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Both Datadog and Atlassian delivered strong revenue growth in recent quarters, while also focusing on improving profitability.
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AI presents a significant long-term growth opportunity for both companies. Their discounted stock prices could offer an attractive entry point for patient investors.