Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Get Free Report) have earned a consensus rating of "Hold" from the nine ratings firms that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $41.50.
A number of equities research analysts have weighed in on the company. Canaccord Genuity Group lifted their price objective on DigitalOcean from $42.00 to $48.00 and gave the company a "buy" rating in a report on Friday, October 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Stifel Nicolaus increased their price target on shares of DigitalOcean from $32.00 to $35.00 and gave the company a "hold" rating in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective 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. Finally, UBS Group reduced their price target on DigitalOcean from $40.00 to $34.00 and set a "neutral" rating for the company in a research report on Friday, August 9th.
Check Out Our Latest Analysis on DigitalOcean
DigitalOcean Trading Down 3.9 %
NYSE:DOCN traded down $1.50 on Friday, hitting $36.85. 1,261,583 shares of the company's stock traded hands, compared to its average volume of 1,256,590. The company has a market cap of $3.40 billion, a PE ratio of 43.35, a price-to-earnings-growth ratio of 2.44 and a beta of 1.83. The firm has a 50-day moving average price of $40.67 and a 200-day moving average price of $36.96. DigitalOcean has a 1 year low of $26.10 and a 1 year high of $44.80.
DigitalOcean (NYSE:DOCN - Get Free Report) last released its quarterly 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. The business had revenue of $198.50 million for the quarter, compared to the consensus estimate of $196.64 million. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. DigitalOcean's revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. On average, research analysts forecast that DigitalOcean will post 1.01 EPS for the current fiscal year.
Hedge Funds Weigh In On DigitalOcean
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in DigitalOcean by 11.5% in the first quarter. Vanguard Group Inc. now owns 6,728,563 shares of the company's stock valued at $256,897,000 after purchasing an additional 696,426 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of DigitalOcean by 32.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,397,588 shares of the company's stock worth $56,449,000 after acquiring an additional 345,119 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in DigitalOcean during the second quarter valued at $11,712,000. Bank of New York Mellon Corp boosted its stake in DigitalOcean by 66.9% during the second quarter. Bank of New York Mellon Corp now owns 766,043 shares of the company's stock worth $26,620,000 after acquiring an additional 307,162 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in DigitalOcean by 27.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,178,848 shares of the company's stock valued at $40,965,000 after buying an additional 257,229 shares in the last quarter. 49.77% of the stock is owned by hedge funds and other institutional investors.
About DigitalOcean
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Get Free ReportDigitalOcean 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).
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