DigitalOcean (DOCN) Projected to Post Quarterly Earnings on Tuesday

DigitalOcean (NYSE:DOCN - Get Free Report) will likely be announcing 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 listening to the company's conference call can do so using this link.

DigitalOcean Trading Down 2.9 %

NYSE DOCN traded down $1.32 during trading hours on Friday, hitting $44.52. 885,841 shares of the company's stock traded hands, compared to its average volume of 1,145,288. DigitalOcean has a 52 week low of $26.63 and a 52 week high of $46.46. The firm has a market capitalization of $4.11 billion, a P/E ratio of 52.38, a P/E/G ratio of 3.19 and a beta of 1.81. The business's fifty day moving average price is $38.17 and its two-hundred day moving average price is $38.42.

Insider Activity

In other DigitalOcean news, insider Bratin Saha sold 4,289 shares of DigitalOcean stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total transaction of $157,835.20. Following the completion of the transaction, the insider now directly owns 372,762 shares of the company's stock, valued at $13,717,641.60. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matt Steinfort sold 12,498 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was 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 owns 517,498 shares of the company's stock, valued at $20,699,920. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,244 shares of company stock worth $1,416,208. 0.74% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of DigitalOcean in a report on Tuesday, November 5th. Citigroup assumed coverage on DigitalOcean in a research note on Friday, January 24th. They issued a "buy" rating and a $45.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on DigitalOcean from $32.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Stifel Nicolaus raised their target price on shares of DigitalOcean from $35.00 to $40.00 and gave the stock a "hold" rating in a research note on Wednesday, December 18th. Finally, JMP Securities upped their price target on shares of DigitalOcean from $47.00 to $55.00 and gave the stock a "market outperform" rating in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.73.

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).