Datadog stock has gone parabolic in the past three months, and it recently shot up following the news of its inclusion in the S&P 500 index. Datadog’s lucrative addressable opportunity suggests that it may be able to justify its valuation in the long run. Shares of Datadog (NASDAQ: DDOG) shot up nearly 15% on July 3 after it was revealed that the provider of cloud-based observability, monitoring, and security solutions will join the S&P 500 index on July 9.