Datadog Inc.
DDOG
recently announced the launch of Datadog Audit Trail to help businesses achieve their compliance and governance objectives. The new software service enables customers to audit all changes within the Datadog platform.
The new service is aimed at helping enterprises build a more complete compliance strategy for their observability data by mitigating the risk of significant data breaches, unauthorized user access and unintended configuration changes.
Datadog Audit Trail provides a unified view to give customers full visibility into user and API actions across the platform. It also allows teams to report and alert on changes and fulfill their audit and compliance demands quickly and easily.
The new service will enable organizational compliance by keeping all audit events for 90 days, with additional options for long-term archival.
Datadog Rides on New Product Adoption, Strength in Partner Base
Datadog has been benefiting from the increased adoption of cloud-based monitoring and analytics platforms, across the globe. This Zacks Rank #3 (Hold) company’s expanding portfolio of integrated solutions has been acting as a major catalyst in expanding its customer base.You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
The solid adoption of newer products, including Real User Monitoring, Synthetic Monitoring and Application Performance Monitoring, is expected to aid customer wins in the near term.
In the last reported quarter, the company witnessed a robust demand for its infrastructure monitoring solutions, APM suite and log management products. The company had more than 19,800 customers at the end of first-quarter 2022, up from 15,200 in the year-ago quarter. Of these customers, 2,250 have an annual run rate (“ARR”) of $100K or more, up from 1,406 in the year-ago quarter. These customers generate about 85% of the total ARR.
As of the end of the first quarter, 81% of customers used two or more products, up from 75% in the year-ago quarter. Additionally, 35% of customers utilized four or more products, up from 25% in the year-ago quarter.
Contributions from a strong cloud partner base, including
Alphabet
’s
GOOGL
Google Cloud,
Microsoft
’s
MSFT
Azure and
Amazon
’s
AMZN
Amazon Web Services (“AWS”), are expected to remain key growth drivers.
Last month, the company achieved AWS Education Competency status. Datadog and AWS will also be developing and delivering a tighter product alignment in the future.
The strategic collaboration opened up a marketing and co-selling program between Amazon and Datadog, bringing new opportunities for consumers worldwide.
Earlier this year, Datadog was chosen as a Microsoft partner within the Azure Cloud Adoption Framework.
Per the Datadog-Microsoft partnership, Datadog will integrate its monitoring and security capabilities with Azure’s full suite of services, thus helping organizations accelerate their cloud adoption process.
Datadog has also extended its strategic partnership with Google Cloud. Datadog and Google Cloud extended this partnership from Europe, the Middle East and Africa (EMEA) to North America.
The extended partnership has made it easier for organizations to access and implement Datadog’s monitoring and security platform, allowing them to secure and optimize migrated and new workloads.
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