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.

While the S&P 500 inclusion gives Datadog a temporary boost, its solid fundamentals, growing customer base, and strong bookings provide a solid base for future growth.

Datadog stock will replace Juniper Networks on the S&P 500 on July 9th. Here's what the S&P 500 inclusion means for DDOG share price.