Shares of monitoring and analytics platform specialist Datadog (NASDAQ:DDOG) were slammed on Monday, falling as much as 12.9%. The stock closed the trading day down 11%.
The stock's decline was likely due to the market's continued sell-off on Monday.
It's not surprising to see Datadog stock fall as sharply as it did. The S&P 500 declined 7.6% on Monday, and many growth stocks were hit even harder.
Datadog's decline extends the tech stock's recent pullback, with shares down 18% since March 5. But it's worth noting that the stock is still up about 4% year to date -- a time period that the S&P 500 is down 15%.
When Datadog announced its fourth-quarter results on Feb. 13, management had big expectations for 2020. The company guided for full-year revenue between $535 million and $545 million. This compares to revenue of $364 million in 2019.