Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $44.80 and last traded at $44.06, with a volume of 133587 shares trading hands. The stock had previously closed at $43.81.
Wall Street Analyst Weigh In
DOCN has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on shares of DigitalOcean from $38.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, July 15th. UBS Group decreased their target price on DigitalOcean from $40.00 to $34.00 and set a "neutral" rating for the company in a research note on Friday, August 9th. Stifel Nicolaus lifted their price target on DigitalOcean from $32.00 to $35.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. Barclays boosted 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. Finally, Canaccord Genuity Group increased their price target on shares of DigitalOcean from $42.00 to $48.00 and gave the company a "buy" rating in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.63.
Check Out Our Latest Stock Analysis on DOCN
DigitalOcean Stock Performance
The business's 50 day moving average price is $39.57 and its 200-day moving average price is $36.27. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 81.74, a PEG ratio of 3.38 and a beta of 1.83.
DigitalOcean (NYSE:DOCN - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.09. The company had revenue of $192.00 million for the quarter, compared to analyst estimates of $188.63 million. DigitalOcean had a negative return on equity of 31.71% and a net margin of 9.30%. The company's revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. On average, equities research analysts expect that DigitalOcean Holdings, Inc. will post 0.86 earnings per share for the current fiscal year.
Institutional Trading of DigitalOcean
Several large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in shares of DigitalOcean in the second quarter valued at about $877,000. Private Advisor Group LLC increased its position in DigitalOcean by 637.6% in the 1st quarter. Private Advisor Group LLC now owns 48,378 shares of the company's stock valued at $1,847,000 after acquiring an additional 41,819 shares in the last quarter. Public Sector Pension Investment Board bought a new position in shares of DigitalOcean in the second quarter worth about $4,108,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of DigitalOcean during the second quarter worth approximately $11,712,000. Finally, Vanguard Group Inc. grew its stake in shares of DigitalOcean by 11.5% during 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 during the last quarter. 49.77% of the stock is owned by institutional investors.
About DigitalOcean
(
Get Free Report)
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).
Featured Articles
Before you consider DigitalOcean, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DigitalOcean wasn't on the list.
While DigitalOcean currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
