Krinsky称，“从绝对值来看，该指数仍在400点上方，但一年以来的相对低点并不是一个好迹象。”BTIG stated that the software index is maintaining stability above a larger bottom formation, and Datadog, which is breaking through the bottom formation, is worth paying attention to.
According to the information from the Chinese financial app, BTIG's chief market technical analyst Jonathan Krinsky stated in a report that the SPDR S&P Computer Software & Services ETF (XSW.US), which tracks the performance of software stocks, is maintaining stability above a larger bottom formation, showing relatively strong performance and seeking a breakthrough. The index has risen by 3.92% so far this year but dropped by 1.30% today. Meanwhile, BTIG recommended focusing on Datadog (DDOG.US), which is breaking through the bottom formation and has consecutively risen, gaining over 7% in the past four days.
However, compared to the large cap, Microsoft (MSFT.US) is still underperforming. The stock has dropped by 2.68% from six months ago, fell by 2.89% today, but has accumulated a 10.51% increase year-to-date.
Krinsky remarked, 'From an absolute value perspective, the index is still above 400 points, but the relative low point over the past year is not a good sign.'
On the other hand, it is worth noting that Datadog (DDOG.US), a SaaS company in the USA providing monitoring services for servers, databases, etc., is breaking through the bottom formation. It rose by 7.73% compared to five days ago, and by 35.67% compared to the same period last year, with a 0.29% increase today. BTIG's target price for Datadog is $143, while the current stock price is $123.
Datadog is a monitoring and security platform for cloud applications. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management, providing customers with unified, real-time observability across their entire tech stack. Datadog is widely used by organizations of all sizes and industries to achieve digital transformation and cloud migration, facilitate collaboration between development, operations, security, and business teams, accelerate time-to-market for applications, shorten time to resolution for issues, safeguard applications and infrastructure, understand user behavior, and track key business indicators.
