DigitalOcean (DOCN) Projected to Post Earnings on Tuesday

DigitalOcean (NYSE:DOCN) is projected to announce its earnings results before the market opens on Tuesday, February 25th. Analysts expect the company to announce earnings of $0.35 per share and revenue of $200.54 million for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

DigitalOcean Stock Performance

DigitalOcean stock opened at $39.35 on Friday. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 46.29, a PEG ratio of 3.12 and a beta of 1.81. DigitalOcean has a 52-week low of $26.63 and a 52-week high of $47.02. The stock’s 50 day moving average price is $38.66 and its two-hundred day moving average price is $38.91.

Insider Activity

In related news, insider Bratin Saha sold 3,468 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $38.18, for a total value of $132,408.24. Following the sale, the insider now directly owns 379,795 shares of the company’s stock, valued at $14,500,573.10. This trade represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matt Steinfort sold 12,498 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.00, for a total transaction of $499,920.00. Following the completion of the sale, the chief financial officer now directly owns 517,498 shares in the company, valued at $20,699,920. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,255 shares of company stock worth $790,163. 0.74% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DOCN shares. JMP Securities increased their target price on DigitalOcean from $47.00 to $55.00 and gave the stock a “market outperform” rating in a report on Monday, January 27th. Citigroup assumed coverage on shares of DigitalOcean in a report on Friday, January 24th. They set a “buy” rating and a $45.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research report on Tuesday, November 5th. Stifel Nicolaus boosted their target price on shares of DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald initiated coverage on shares of DigitalOcean in a research note on Friday, January 17th. They set a “neutral” rating and a $39.00 price target for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.40.

About DigitalOcean

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).