Datadog Inc DDOG shares are trading higher Thursday amid overall market strength in the technology and software sector.
On Wednesday, Datadog provided an update for investors at the Jefferies Software Conference. Jefferies analyst Brent Thill relayed some of those updates Thursday afternoon on CNBC's "Closing Bell."
"We met with Datadog yesterday and they're like 'we're seeing nothing. We're seeing no fundamental slowdown,'" Thill said.
75% of the companies that Jefferies met with at the conference are not reporting any signs of a slowdown, he added.
"So I think we are going to see a little bit of a rally, given how bad the sector has performed," the Jefferies analyst said.
Datadog is also moving higher in sympathy with MongoDB Inc MDB after the database platform company reported better-than-expected top-line results and issued guidance above analyst estimates.
Related Link: Why MongoBD Stock Is Trading Higher Today
DDOG Price Action: Datadog has traded between $82.15 and $199.67 over a 52-week period.
The stock was up 14.6% at $111.73 at press time, according to data from Benzinga Pro.
Photo: courtesy of Datadog.
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