Datadog gets FedRAMP Agency Authorization, shares soar

Datadog gets FedRAMP Agency Authorization, shares soar

Datadog Inc NASDAQ: DDOG is trading higher on 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.

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

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

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

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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 the time of publication.