Jim Cramer Says He Likes Datadog but its not "What I Want to Recommend Anymore"

Datadog, Inc. (NASDAQ:DDOG) is one of the stocks that Jim Cramer shed light on. A caller asked why Cramer assigned a Sell rating on the stock during Squawk on the Street, and he replied:

“Alright, I am no longer a believer in the enterprise software group. I think that we’ve become convinced, and we knew this from NVIDIA, we knew this… from AMD, that the enterprise software business, which has always had a very high multiple, has kind of stalled out, and I think that Datadog’s part of that. I’m tired of companies that give me observability into my operation. There’s too many of them. I don’t want to do it anymore. I don’t want to see them anymore, and that’s why. I do, I like the company, they’re good guys, but that’s not what I want to recommend anymore. But thank you for seeing that that’s what I was saying this morning, because it is important.”

Datadog (NASDAQ:DDOG) provides a cloud-based platform that monitors application performance, infrastructure, and security. The company’s tools help organizations track system health, manage incidents, optimize costs, and ensure cloud and data security.

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Disclosure: None. This article is originally published at Insider Monkey.