DigitalOcean Holdings, Inc. (NYSE:DOCN) Given Average Recommendation of "Moderate Buy" by Analysts

DigitalOcean Holdings, Inc. (NYSE:DOCN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve analysts that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $42.73.

DOCN has been the topic of a number of recent research reports. JMP Securities raised their target price on DigitalOcean from $47.00 to $55.00 and gave the stock a "market outperform" rating in a report on Monday. Cantor Fitzgerald began coverage on shares of DigitalOcean in a report on Friday, January 17th. They set a "neutral" rating and a $39.00 price target on the stock. Stifel Nicolaus increased their price objective 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. Barclays lifted their target price on shares of DigitalOcean from $38.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. increased their price target on DigitalOcean from $32.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th.

Insider Buying and Selling at DigitalOcean

In other news, CFO Matt Steinfort sold 12,498 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $40.00, for a total value of $499,920.00. Following the transaction, the chief financial officer now directly owns 517,498 shares in the company, valued at approximately $20,699,920. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bratin Saha sold 16,989 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $626,044.65. Following the completion of the sale, the insider now directly owns 390,296 shares of the company's stock, valued at approximately $14,382,407.60. This trade represents a 4.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,244 shares of company stock worth $1,416,208 over the last quarter. Insiders own 0.74% of the company's stock.

Institutional Trading of DigitalOcean

Several institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Investment Advisory LLC raised its position in DigitalOcean by 380.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company's stock valued at $25,000 after purchasing an additional 570 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in shares of DigitalOcean in the third quarter valued at about $30,000. Advisors Asset Management Inc. lifted its stake in DigitalOcean by 150.4% in the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company's stock worth $39,000 after acquiring an additional 585 shares during the period. Blue Trust Inc. increased its position in DigitalOcean by 380.6% during the 3rd quarter. Blue Trust Inc. now owns 1,211 shares of the company's stock valued at $49,000 after purchasing an additional 959 shares during the period. Finally, JTC Employer Solutions Trustee Ltd bought a new stake in shares of DigitalOcean in the 4th quarter valued at about $45,000. Institutional investors own 49.77% of the company's stock.

DigitalOcean Price Performance

DigitalOcean stock traded down $0.03 during midday trading on Thursday, reaching $41.78. 1,425,061 shares of the company traded hands, compared to its average volume of 1,047,703. DigitalOcean has a 12 month low of $26.63 and a 12 month high of $44.80. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 49.15, a price-to-earnings-growth ratio of 2.77 and a beta of 1.78. The business has a 50 day moving average of $37.08 and a two-hundred day moving average of $37.51.

DigitalOcean (NYSE:DOCN - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.12. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The company had revenue of $198.50 million for the quarter, compared to the consensus estimate of $196.64 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. DigitalOcean's revenue was up 12.1% on a year-over-year basis. As a group, equities analysts forecast that DigitalOcean will post 1.01 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).