<p><strong>标准普尔 500 指数</strong> 被广泛认为是美国股市最全面的衡量标准，由该国 500 家领先的上市公司组成。由于构成该指数的企业的广泛覆盖，它被誉为整体股市表现最可靠的基准。要被考虑纳入标准普尔 500 指数，公司必须满足以下标准：</p>
<ul>
<li>必须是美国公司</li>
<li>市值至少为 205 亿美元</li>
<li>流动性高</li>
<li>至少有 50% 的流通股可供交易</li>
<li>在最近一个季度根据公认会计原则（GAAP）盈利</li>
<li>在前四个季度的总和中盈利</li>
</ul>
<p><strong>Datadog</strong>（DDOG 15.77%）是最新加入标准普尔 500 指数的公司，计划于 7 月 9 日加入该基准。这使其成为今年迄今为止仅有的五家公司之一。自 2019 年底首次公开募股（IPO）以来，Datadog 的表现远超市场，产生了 315% 的收益，而标准普尔 500 指数仅为 109%（截至本文撰写时）。股价的上涨得益于其强劲的基本面，其收入增长了 694%，净收入飙升了 2670%。</p>
<p>然而，尽管该股表现出色，公司增长记录强劲，许多人认为 Datadog 的前景依然广阔。让我们来看看未来的机会，以及为什么华尔街认为该股尽管估值偏高，但仍然是一个强劲的买入。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjM5MzAvYS1zeXN0ZW0tYWRtaW5pc3RyYXRvci1zZXR0aW5nLXVwLXNlcnZlci1uZXR3b3JrLWluLWEtZGF0YS1jZW50ZXItbGl0LWJ5LW5lb24tbGlnaHQuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjM5MzAvYS1zeXN0ZW0tYWRtaW5pc3RyYXRvci1zZXR0aW5nLXVwLXNlcnZlci1uZXR3b3JrLWluLWEtZGF0YS1jZW50ZXItbGl0LWJ5LW5lb24tbGlnaHQuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>行业领先</h2>
<p>数字化转型正在进行中，推动因素是云计算的持续采用和人工智能（AI）的日益使用。许多公司在其数字存在上高度依赖，他们需要一种方式来持续监控其网站、应用程序、服务器和其他基于云的系统，以确保它们保持正常运行。</p>
<p>这正是 Datadog 的用武之地。该公司的复杂监控和分析平台持续跟踪基于云的业务系统，每小时处理数百万个数据点，并在问题导致关键停机之前通知开发人员。Datadog 的软件即服务（SaaS）工具更进一步，深入问题根源，帮助防止问题的再次发生。</p>
<p>Datadog 拥有一长串行业荣誉，突显其监控和安全解决方案的实力。它被 <strong>Gartner</strong> 评选为 2024 年可观察性平台的领导者。它还在 2025 年第二季度的 <strong>Forrester</strong> Wave 报告中被列为人工智能运维平台（AIOps）。还有更多例子，但你明白我的意思。</p>
<h2>数据说明一切</h2>
<p>不要只听我说。Datadog 最近的业绩描绘了一幅令人信服的图景。在第一季度，762 百万美元的收入同比增长 25%，调整后的每股收益（EPS）为 0.46 美元。或许更重要的是，该公司的自由现金流持续上升，达到 2.44 亿美元，增长了 30%。</p>
<p>强劲的财务业绩得益于同样强劲的业务执行。Datadog 的客户基础增加到 30,500 家，增长了 9%，而年经常性收入（ARR）达到 10 万美元的客户数量跃升了 13%，达到 3,770 家。此外，现有客户正在扩大与公司的关系：</p>
<ul>
<li>83% 的客户使用两种或更多产品，较 82% 有所上升。</li>
<li>51% 使用四种或更多产品，较 47% 有所上升。</li>
<li>28% 使用六种或更多产品，较 23% 有所上升。</li>
<li>13% 使用八种或更多产品，较 10% 有所上升。</li>
</ul>
<p>这种 “获取与扩展” 策略，加上新产品的推出——特别是那些专注于人工智能采用的产品——为 Datadog 的未来带来了良好的前景。</p>
<h2>华尔街看涨</h2>
<p>Datadog 在今年早些时候因反复无常的关税下调了其指引，但华尔街依然看涨。在截至 7 月的 46 位分析师中，有 38 位给予买入或强烈买入评级，8 位标记为持有，_没有一位_建议卖出。</p>
<p>Loop Capital 的分析师是最看涨的之一，维持买入评级，并将目标价定为 200 美元，这意味着投资者有 48% 的潜在上涨空间，相较于周三的收盘价。分析师们指出，Datadog 的增长轨迹和不断增加的可寻址市场（TAM）——公司认为到 2034 年将达到 1750 亿美元——是他们乐观预测的基础。此外，他们认为 Datadog 的自由现金流将在未来十年内攀升至 79 亿美元，这有助于说明公司的长期增长潜力。</p>
<p>需要明确的是，Datadog 从来都不便宜。该股目前的交易价格为明年收益的 76 倍和明年销售额的 14 倍。然而，最常用的估值指标在高增长公司中往往难以适用，Datadog 也不例外。当使用更合适的前瞻性市盈率与增长比（PEG）比率进行衡量时，该比率为 0.4；任何低于 1 的数字都是被视为被低估股票的标准。</p>
<p>鉴于其长期的增长历史、强劲的顺风因素以及华尔街的看涨态度，我认为 Datadog 是一个值得买入的股票。</p>

DDOG

<p>Datadog (DDOG) 将于 7 月 9 日加入标准普尔 500 指数，自 2019 年首次公开募股以来，其股价上涨了 315%，表现超过标准普尔 500 指数的 109% 涨幅。该公司显示出显著的增长，收入增长了 694%，净收入增长了 2,670%。分析师们对其前景持乐观态度，在 46 位分析师中有 38 位给予买入评级，预计有 48% 的上涨潜力。尽管其估值高达明年收益的 76 倍，Datadog 强劲的基本面和不断扩大的客户基础支持其长期增长潜力</p>

<p>The <strong>S&amp;P 500</strong> is widely regarded as the most comprehensive gauge of the U.S. stock market, made up of the 500 leading publicly traded companies in the country. Given the extensive reach of the businesses that comprise the index, it is hailed as the most reliable benchmark of overall stock market performance. To be considered for admission to the S&amp;P 500, a company must meet the following criteria:</p>
<div class="lb-trans"><p><strong>标准普尔 500 指数</strong> 被广泛认为是美国股市最全面的衡量标准，由该国 500 家领先的上市公司组成。由于构成该指数的企业的广泛覆盖，它被誉为整体股市表现最可靠的基准。要被考虑纳入标准普尔 500 指数，公司必须满足以下标准：</p>
</div><ul>
<li>Be a U.S.-based company</li>
<li>Have a market cap of at least $20.5 billion</li>
<li>Be highly liquid</li>
<li>Have at least 50% of its outstanding shares available for trading</li>
<li>Be profitable based on generally accepted accounting principles (GAAP) in the most recent quarter</li>
<li>Be profitable over the preceding four quarters in aggregate</li>
</ul>
<div class="lb-trans"><ul>
<li>必须是美国公司</li>
<li>市值至少为 205 亿美元</li>
<li>流动性高</li>
<li>至少有 50% 的流通股可供交易</li>
<li>在最近一个季度根据公认会计原则（GAAP）盈利</li>
<li>在前四个季度的总和中盈利</li>
</ul>
</div><p><strong>Datadog</strong>(DDOG 15.77%) is the latest addition to the S&amp;P 500, scheduled to join the benchmark on July 9. That makes it one of only five companies to make the cut so far this year. Since its initial public offering (IPO) in late 2019, Datadog has soundly thrashed the market, generating gains of 315%, compared to just 109% for the S&amp;P 500 (as of this writing). The stock price gains have been fueled by its robust underlying fundamentals, as its revenue has jumped 694% and net income has soared 2,670%.</p>
<div class="lb-trans"><p><strong>Datadog</strong>（DDOG 15.77%）是最新加入标准普尔 500 指数的公司，计划于 7 月 9 日加入该基准。这使其成为今年迄今为止仅有的五家公司之一。自 2019 年底首次公开募股（IPO）以来，Datadog 的表现远超市场，产生了 315% 的收益，而标准普尔 500 指数仅为 109%（截至本文撰写时）。股价的上涨得益于其强劲的基本面，其收入增长了 694%，净收入飙升了 2670%。</p>
</div><p>Yet, despite the stock's impressive performance and the company's strong track record of growth, many believe the runway ahead is long for Datadog. Let's examine the opportunity ahead and why Wall Street considers the stock a strong buy despite its premium valuation.</p>
<div class="lb-trans"><p>然而，尽管该股表现出色，公司增长记录强劲，许多人认为 Datadog 的前景依然广阔。让我们来看看未来的机会，以及为什么华尔街认为该股尽管估值偏高，但仍然是一个强劲的买入。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjM5MzAvYS1zeXN0ZW0tYWRtaW5pc3RyYXRvci1zZXR0aW5nLXVwLXNlcnZlci1uZXR3b3JrLWluLWEtZGF0YS1jZW50ZXItbGl0LWJ5LW5lb24tbGlnaHQuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F823930%2Fa-system-administrator-setting-up-server-network-in-a-data-center-lit-by-neon-light.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Top of its game</h2>
<div class="lb-trans"><h2>行业领先</h2>
</div><p>The digital transformation is ongoing, driven by the continued adoption of cloud computing and the increasing use of artificial intelligence (AI). Many companies are heavily reliant on their digital presence, and they need a way to continually monitor their websites, apps, servers, and other cloud-based systems to ensure they stay up and running.</p>
<div class="lb-trans"><p>数字化转型正在进行中，推动因素是云计算的持续采用和人工智能（AI）的日益使用。许多公司在其数字存在上高度依赖，他们需要一种方式来持续监控其网站、应用程序、服务器和其他基于云的系统，以确保它们保持正常运行。</p>
</div><p>That's where Datadog comes in. The company's sophisticated monitoring and analytics platform continuously tracks cloud-based business systems, processes millions of data points every hour, and notifies developers of issues before they result in critical downtime. Datadog's software-as-a-service (SaaS) tools go further, getting to the root of the problem to help prevent it from recurring.</p>
<div class="lb-trans"><p>这正是 Datadog 的用武之地。该公司的复杂监控和分析平台持续跟踪基于云的业务系统，每小时处理数百万个数据点，并在问题导致关键停机之前通知开发人员。Datadog 的软件即服务（SaaS）工具更进一步，深入问题根源，帮助防止问题的再次发生。</p>
</div><p>Datadog boasts a lengthy list of industry accolades that underscore the strength of its monitoring and security solutions. It was selected as a leader in the 2024 Magic Quadrant by <strong>Gartner</strong> for observability platforms. It was also named in the <strong>Forrester</strong> Wave report for artificial intelligence ops platforms (AIOps) for the second quarter of 2025. There are more examples, but you get the point.</p>
<div class="lb-trans"><p>Datadog 拥有一长串行业荣誉，突显其监控和安全解决方案的实力。它被 <strong>Gartner</strong> 评选为 2024 年可观察性平台的领导者。它还在 2025 年第二季度的 <strong>Forrester</strong> Wave 报告中被列为人工智能运维平台（AIOps）。还有更多例子，但你明白我的意思。</p>
</div><h2>The numbers tell the tale</h2>
<div class="lb-trans"><h2>数据说明一切</h2>
</div><p>Don't take my word for it. Datadog's most recent results paint a convincing picture. In the first quarter, revenue of $762 million grew 25% year over year, resulting in adjusted earnings per share (EPS) of $0.46. Perhaps as importantly, the company's free cash flow continues to march higher, rising to $244 million, an increase of 30%.</p>
<div class="lb-trans"><p>不要只听我说。Datadog 最近的业绩描绘了一幅令人信服的图景。在第一季度，762 百万美元的收入同比增长 25%，调整后的每股收益（EPS）为 0.46 美元。或许更重要的是，该公司的自由现金流持续上升，达到 2.44 亿美元，增长了 30%。</p>
</div><p>The strong financial results were fueled by equally robust business execution. Datadog's customer base increased to 30,500, up 9%, while customers spending $100,000 in annual recurring revenue (ARR) jumped 13% to 3,770. Furthermore, existing customers are expanding their relationships:</p>
<div class="lb-trans"><p>强劲的财务业绩得益于同样强劲的业务执行。Datadog 的客户基础增加到 30,500 家，增长了 9%，而年经常性收入（ARR）达到 10 万美元的客户数量跃升了 13%，达到 3,770 家。此外，现有客户正在扩大与公司的关系：</p>
</div><ul>
<li>83% of customers are using two or more products, up from 82%.</li>
<li>51% are using four or more products, up from 47%.</li>
<li>28% are using six or more products, up from 23%.</li>
<li>13% are using eight or more products, up from 10%.</li>
</ul>
<div class="lb-trans"><ul>
<li>83% 的客户使用两种或更多产品，较 82% 有所上升。</li>
<li>51% 使用四种或更多产品，较 47% 有所上升。</li>
<li>28% 使用六种或更多产品，较 23% 有所上升。</li>
<li>13% 使用八种或更多产品，较 10% 有所上升。</li>
</ul>
</div><p>This land-and-expand strategy, combined with the introduction of new products -- particularly those focused on the adoption of AI -- bodes well for Datadog's future.</p>
<div class="lb-trans"><p>这种 “获取与扩展” 策略，加上新产品的推出——特别是那些专注于人工智能采用的产品——为 Datadog 的未来带来了良好的前景。</p>
</div><h2>Wall Street is bullish</h2>
<div class="lb-trans"><h2>华尔街看涨</h2>
</div><p>Datadog lowered its guidance earlier this year in response to the on-again, off-again tariffs, but Wall Street remains bullish. Of the 46 analysts that covered the stock thus far in July, 38 rate it a buy or strong buy, 8 label it a hold, and <em>not one</em> recommends selling.</p>
<div class="lb-trans"><p>Datadog 在今年早些时候因反复无常的关税下调了其指引，但华尔街依然看涨。在截至 7 月的 46 位分析师中，有 38 位给予买入或强烈买入评级，8 位标记为持有，_没有一位_建议卖出。</p>
</div><p>Analysts at Loop Capital are among the most bullish, maintaining a buy rating and $200 price target on the stock, which suggests potential upside of 48% for investors, compared to the stock's closing price on Wednesday. The analysts cite Datadog's growth trajectory and increasing total addressable market (TAM) -- which the company believes will hit $175 billion by 2034 -- as the foundation for their optimistic call. Furthermore, they believe Datadog's free cash flow will climb to $7.9 billion over the coming decade, which helps illustrate the company's long-term growth potential.</p>
<div class="lb-trans"><p>Loop Capital 的分析师是最看涨的之一，维持买入评级，并将目标价定为 200 美元，这意味着投资者有 48% 的潜在上涨空间，相较于周三的收盘价。分析师们指出，Datadog 的增长轨迹和不断增加的可寻址市场（TAM）——公司认为到 2034 年将达到 1750 亿美元——是他们乐观预测的基础。此外，他们认为 Datadog 的自由现金流将在未来十年内攀升至 79 亿美元，这有助于说明公司的长期增长潜力。</p>
</div><p>To be clear, Datadog has never been cheap. The stock is currently selling for just 76 times next year's earnings and 14 times next year's sales. However, the most commonly used valuation metrics struggle with high-growth companies, and Datadog is no different. When measured using the more appropriate forward price/earnings-to-growth (PEG) ratio, the multiple comes in at 0.4; any number less than 1 is the standard for an undervalued stock.</p>
<div class="lb-trans"><p>需要明确的是，Datadog 从来都不便宜。该股目前的交易价格为明年收益的 76 倍和明年销售额的 14 倍。然而，最常用的估值指标在高增长公司中往往难以适用，Datadog 也不例外。当使用更合适的前瞻性市盈率与增长比（PEG）比率进行衡量时，该比率为 0.4；任何低于 1 的数字都是被视为被低估股票的标准。</p>
</div><p>Given its long history of growth, strong secular tailwinds, and Wall Street's bullish take, I would submit that Datadog is a buy.</p>
<div class="lb-trans"><p>鉴于其长期的增长历史、强劲的顺风因素以及华尔街的看涨态度，我认为 Datadog 是一个值得买入的股票。</p>
</div>

最新加入标准普尔 500 指数的股票自 2019 年 IPO 以来已经上涨了 315%，华尔街认为现在是买入的好时机