What's Driving Datadog Shares Higher Today?

Datadog Inc DDOG is trading higher Thursday after the company announced it received Federal Risk and Authorization Management Program (FedRAMP) Agency Authorization at the moderate-impact level.

FedRAMP is a United States federal government program that provides a standardized approach to security and risk assessment of cloud services and technologies.

"Public-sector organizations face a unique challenge when it comes to the cloud, specifically the need to migrate mission-critical applications in a highly secure and compliant manner,” said Ilan Rabinovitch, senior vice president of product and community at Datadog.

"Achieving FedRAMP authorization validates our ability to meet the specific needs of government customers across security, compliance and operational measures," Rabinovitch added.

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

See Also: Why ServiceNow Shares Are Trading Higher Today

DDOG Price Action: Datadog has traded as low as $69.73 and as high as $199.67 over a 52-week period.

The stock was up 2.87% at $131.72 at time of publication.

Photo: courtesy of Datadog.