Datadog to Join the S&P 500. The Stock Is Soaring After Hours.

Datadog provides customers with a single dashboard for viewing all of their cloud activity. (Dreamstime)

On Wednesday after the close of trading, S&P Dow Jones Indices announced that Datadog would replace Juniper Networks on the S&P 500 index beginning on July 9. Juniper was acquired by Hewlett Packard Enterprise earlier in the day.

Datadog stock is up around 9% in late trading following the announcement.

Datadog provides customers with a single dashboard for viewing all of their cloud activity including servers, applications, databases and security, and has a market capitalization of $49 billion.

Previous to the announcement, Datadog shares were down 5.5% on the year, compared with the S&P 500, which was up 5.4%.

Write to Adam Levine at adam.levine@barrons.com