The cloud stock plunged following its latest earnings report, but investors shouldn't lose sight of the bigger picture.Cloud observability and security platform provider Datadog (DDOG 2.67%) has underperformed the broader stock market in 2024, with shares of the company down 7% as of this writing, and it looks like things are set to go from bad to worse following the release of its first-quarter 2024 results on May 7.Datadog stock plunged more than 11% after its earnings report, and that would seem surprisi ...