Datadog has replaced Juniper Networks on the S&P 500, following the closure of Juniper’s acquisition by Hewlett Packard Enterprise (HPE).

The observability player joins the stock market index under the ticker DDOG, gaining the coveted spot over the likes of B2C facing-names such as Robinhood and AppLovin. The company’s shares went on to rise 9.3 percent in premarket trading on Thursday.

The S&P news is the latest development in Datadog’s growth. Founded by CEO Olivier Pomel and CTO Alexis Lê-Quôc in 2010, the company went public in 2019 on the Nasdaq exchange at a valuation of $8.7 billion.

Its product offering covers service providers including Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform, Red Hat OpenShift, and VMware.

According to the Datadog website, notable customers include Forbes, Lego, Shell, Siemens, and The Washington Post.

Last year saw the company bank $2.68 billion in revenue, at an increase of 26 percent year-over-year. According to CNBC, the company has underperformed compared to the broader tech sector so far in 2025. But with a market cap of $46.6 billion, Datadog’s valuation is “significantly higher” than the median for that index – making it an attractive potential buy for a hyperscaler such as AWS, or a security name like Fortinet.

In comparison, HPE's now confirmed Juniper Networks acquisition was just $14 billion.

Notably, in a 2023 discussion with SDxCentral, Juniper's chief AI officer, Bob Friday, brought up the company while comparing vendor-specific AIOps (Artificial Intelligence for IT Operations) with vendor-agnostic alternatives like Datadog.

“There are two approaches to this,” Friday said at the time. “There are things like Datadog. You could try to build an AIOps solution that works across all vendors.

“My perspective right now is the industry’s not ready for that yet. We do not have enough telemetry standards to get a vendor-agnostic thing to work across all vendors quite yet. So I'm much more a fan of vendor-specific.”

In 2025, network-level telemetry is no longer largely proprietary, with vendor-agnostic observability now the strategic default for enterprises.

This is as it aligns with multi-cloud architectures and open-source telemetry. Flexera research from last year found that 89 percent of organizations have implemented a multi-cloud architecture, while Gartner forecasted that for improved interoperability, 70 percent of new cloud-native monitoring by 2025 would use open-source instrumentation, rather than vendor-specific agents.

Two years on, it seems that Datadog has finally had its day.