DigitalOcean Holdings, Inc. (NYSE:DOCN – Get Free Report) has received an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $40.63.
A number of analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Stifel Nicolaus boosted their target price on shares of DigitalOcean from $32.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. UBS Group lowered their price target on DigitalOcean from $40.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Piper Sandler cut their price objective on DigitalOcean from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Finally, Barclays raised their target price on DigitalOcean from $38.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, October 11th.
View Our Latest Stock Report on DigitalOcean
Hedge Funds Weigh In On DigitalOcean
DigitalOcean Price Performance
NYSE DOCN opened at $41.22 on Tuesday. DigitalOcean has a fifty-two week low of $19.39 and a fifty-two week high of $44.80. The stock’s 50-day moving average is $39.96 and its two-hundred day moving average is $36.37. The firm has a market cap of $3.75 billion, a P/E ratio of 77.77, a price-to-earnings-growth ratio of 3.38 and a beta of 1.83.
DigitalOcean (NYSE:DOCN – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.09. The business had revenue of $192.00 million for the quarter, compared to the consensus estimate of $188.63 million. DigitalOcean had a negative return on equity of 31.71% and a net margin of 9.30%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. On average, equities analysts expect that DigitalOcean will post 0.86 EPS for the current year.
DigitalOcean Company Profile
DigitalOcean Holdings, Inc, through its subsidiaries, operates a cloud computing platform in North America, Europe, Asia, and internationally. The company’s platform provides on-demand infrastructure and platform tools for developers, start-ups, and small and growing digital businesses. It also offers infrastructure-as-a-service (IaaS) solutions comprising compute and storage services, as well as networking projects, including Cloud Firewalls software, Managed Load Balancers software, and Virtual Private Cloud (VPC).
Featured Stories
- Five stocks we like better than DigitalOcean
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- Options Trading – Understanding Strike Price
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- Trading Stocks: RSI and Why it’s Useful
- Tesla Stock: Buy the Dips, Sell the Rips
Receive News & Ratings for DigitalOcean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DigitalOcean and related companies with MarketBeat.com's FREE daily email newsletter.