Jim Cramer Says Datadog Is A 'Hugely Fabulous Company', But He Doesn't 'Trust It Yet'

Author: Avi Kapoor | August 20, 2024 08:14am

On CNBC's “Mad Money Lightning Round,” Jim Cramer said KKR & Co. Inc. (NYSE:KKR) is one of the “best-run companies” in the world, adding that it's a “really great” company.

On Aug. 19, KKR said it has acquired a portfolio of six well-located, Class A industrial logistics properties in major U.S. Gateway and Sunbelt markets for around $377 million.

Datadog (NASDAQ:DDOG) is a “hugely fabulous company, and there were people who were trying to buy it for $20 billion before it ever became public. My problem is that it's just the definition of enterprise software,” Cramer said. “I don't trust it yet, but it is a very good company.”

On Aug. 8, Datadog reported better-than-expected second-quarter financial results and issued FY24 guidance above estimates. The New York-based company clocked fiscal second-quarter revenue growth of 27% year-on-year to $645.3 million, beating the analyst consensus estimate of $624.9 million. Adjusted EPS of 53 cents beat the analyst consensus estimate of 37 cents.

When asked about NextEra Energy Partners, LP (NYSE:NEP), he said, “Not sure why we can buy it other than a big dividend, and I'm afraid of that, I'm sorry.”

On July 24, NextEra Energy Partners posted better-than-expected second-quarter results. The company reported quarterly earnings of 66 cents per share, which beat the analyst consensus estimate of 28 cents per share. The company reported quarterly sales of $360.000 million, which beat the analyst consensus estimate of $357.659 million.

Price Action:

• Datadog shares gained 1.9% to settle at $117.21 on Friday.
• Royalty Pharma shares rose 2.9% to close at $27.41.
• NextEra Energy Partners shares gained 0.1% to settle at $25.56 on Friday.

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Photo: Shutterstock

Posted In: DDOG KKR NEP