Benzinga | Aug 7, 2020 11:40AM EDT

Why Datadog's Stock Is Trading Lower Today

Datadog, Inc. (NASDAQ:DDOG) shares are trading lower on Friday.

Despite the stock trading lower, the company reported better-than-expected second-quarter earnings results. The company issued third-quarter and fiscal-year 2020 guidance above analyst estimates.

Along with the earnings, the company also announced it has acquired Undefined Labs, a testing and observability company for developer workflows. No terms were disclosed in the company's press release.

Datadog is a monitoring and analytics platform for developers, IT operations teams and business users.

Datadog shares were trading down 13.07% at $78.25 on Thursday at the time of publication. The company has a 52-week high of $98.99 and a 52-week low of $27.55.