Datto Holding Corp. (MSP) stock prices were down by a marginal 0.37% as of the market closing on August 13th 2021. This brought the price per share down to USD$27.21 at the end of the trading day. Subsequent premarket fluctuations saw the stock fall by 5.07%, bringing it down to USD$25.83.
MSP Stock’s Stellar Quarter
The second quarter of fiscal 2021 saw MSP stock report one of the strongest quarters in its history. The success of the quarter is a clear indication of the strength of the MSP business model. Subscription revenue growth was up 21% as compared to numbers from the prior year quarter. Q2 2021 also saw the company report the addition of 500 net new partners. Both the revenue growth and partner increase are the highest seen since the onset of the global coronavirus pandemic in early 2020.
Scope of MSP Stock’s Expansion
Based on its success, MSP stock expects to see strong momentum across all of its business segments. The company is keenly looking forward to launches in cloud and security that are expected for the second half of 2021. MSP has taken steps to position itself to adequately capitalize on the substantial opportunity to help its partners manage, protect, and connect and SMB client’s data in an increasingly digital world.
Trajectory of Success
MSP stock reported ending the second quarter of 2021 with more than 17,800 MSP partners. The net sequential increase of 500 partners was up from the increase of 300 partners in the first quarter of fiscal 2021. The number of MSPs contributing more than USD$100,000 ARR was up to 1,250, up from the 1,000 reported as of June 30th 2020.
Consolidating Market Footprint
Q2 2021 also saw MSP stock increase the number of endpoints enabled with Datoo RMM Ransomware Detection to more than one million globally. This is nearly double the numbers reported in May 2021. Further consolidating their steady growth was the Partner Security Firm, which MSP stock hosted. The event was attended by more than two thousand MSP Partners focused on security best practices. The company also announced the upcoming DattoCon21, which is expected to be held in the middle of October 2021.
Future Outlook for MSP Stock
The company reported a stellar end to the first half of fiscal 2021, with investors hoping the company will be able to continue its trajectory of success. Current and potential investors are hopeful that the company will be able to leverage the resources at their disposal. This is hoped to translate into significant and sustained increases in shareholder value.
