DigitalOcean (DOCN) to Release Earnings on Monday

DigitalOcean (NYSE:DOCN) will release its earnings data before the market opens on Monday, November 4th. Analysts expect DigitalOcean to post earnings of $0.40 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.09. DigitalOcean had a net margin of 9.30% and a negative return on equity of 31.71%. The business had revenue of $192.00 million for the quarter, compared to the consensus estimate of $188.63 million. During the same period in the prior year, the business posted $0.11 earnings per share. DigitalOcean’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts expect DigitalOcean to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

DigitalOcean Trading Up 3.1 %

NYSE DOCN opened at $40.81 on Friday. DigitalOcean has a 1-year low of $20.21 and a 1-year high of $44.80. The company has a market capitalization of $3.76 billion, a PE ratio of 56.68, a price-to-earnings-growth ratio of 3.25 and a beta of 1.83. The firm’s fifty day simple moving average is $40.45 and its 200-day simple moving average is $36.60.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their target price on shares of DigitalOcean from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Barclays increased their target price on shares of DigitalOcean from $38.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Piper Sandler lowered their target price on shares of DigitalOcean from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus raised their price target on DigitalOcean from $32.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, DigitalOcean has an average rating of “Moderate Buy” and an average target price of $40.56.

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).