DigitalOcean (DOCN) to Release Quarterly Earnings on Monday

DigitalOcean (NYSE:DOCN - Get Free Report) is set to issue its quarterly earnings data before the market opens on Monday, November 4th. Analysts expect the company to announce earnings of $0.40 per share for the quarter. Investors interested in registering for the company's conference call can do so using this link.

DigitalOcean (NYSE:DOCN - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.39 by $0.09. DigitalOcean had a net margin of 9.30% and a negative return on equity of 31.71%. The business had revenue of $192.00 million during the quarter, compared to the consensus estimate of $188.63 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The business's revenue was up 13.1% on a year-over-year basis. On average, analysts expect DigitalOcean to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

DigitalOcean Stock Down 0.4 %

DigitalOcean stock traded down $0.15 during midday trading on Monday, reaching $40.89. 893,956 shares of the stock traded hands, compared to its average volume of 1,250,909. The stock has a market cap of $3.72 billion, a P/E ratio of 77.15, a PEG ratio of 3.38 and a beta of 1.83. The stock's fifty day moving average is $40.18 and its 200-day moving average is $36.46. DigitalOcean has a 12 month low of $19.39 and a 12 month high of $44.80.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of DigitalOcean from $32.00 to $40.00 and gave the company a "neutral" rating in a research report on Friday. UBS Group cut their target price on DigitalOcean from $40.00 to $34.00 and set a "neutral" rating on the stock in a research report on Friday, August 9th. Canaccord Genuity Group raised their price target on DigitalOcean from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Piper Sandler dropped 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. Finally, Stifel Nicolaus increased their target price on shares of DigitalOcean from $32.00 to $35.00 and gave the company a "hold" rating in a research note on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, DigitalOcean presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.56.

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).