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

On CNBC's “Mad Money Lightning Round,” Jim Cramer said KKR & Co. Inc. 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 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 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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