The stock of DigitalOcean Holdings Inc. (NYSE:DOCN) last traded at $28.86, down -8.41% from the previous session.
Data from the available sources indicates that DigitalOcean Holdings Inc. (NYSE:DOCN) is covered by 14 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $59.00 and a low of $29.00, we find $36.00. Given the previous closing price of $31.51, this indicates a potential upside of 14.25 percent. DOCN stock price is now -30.89% away from the 50-day moving average and -16.36% away from the 200-day moving average. The market capitalization of the company currently stands at $2.80B.
In total, 7 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $39.80 as their price target over the next twelve months.
With the price target reduced from $127 to $103, Morgan Stanley Upgraded its rating from Underweight to Equal-Weight for DigitalOcean Holdings Inc. (NYSE: DOCN).
In other news, Guy Jeffrey Scott, Chief Operating Officer sold 10,000 shares of the company’s stock on Aug 21. The stock was sold for $324,100 at an average price of $32.41. Upon completion of the transaction, the Chief Operating Officer now directly owns 134,262 shares in the company, valued at $3.87 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 14, Chief Operating Officer Guy Jeffrey Scott sold 6,000 shares of the business’s stock. A total of $213,060 was realized by selling the stock at an average price of $35.51. This leaves the insider owning 144,262 shares of the company worth $4.16 million. Insiders disposed of 400,939 shares of company stock worth roughly $11.57 million over the past 1 year. A total of 4.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in DOCN stock. A new stake in DigitalOcean Holdings Inc. shares was purchased by JACOBS LEVY EQUITY MANAGEMENT, INC during the first quarter worth $16,149,000. WOODLINE PARTNERS LP invested $4,507,000 in shares of DOCN during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in DigitalOcean Holdings Inc. valued at approximately $3,268,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. acquired a new stake in DOCN for approximately $2,486,000. POINT72 MIDDLE EAST FZE purchased a new stake in DOCN valued at around $2,105,000 in the second quarter. In total, there are 342 active investors with 54.60% ownership of the company’s stock.
With an opening price of $29.11 on Friday morning, DigitalOcean Holdings Inc. (NYSE: DOCN) set off the trading day. During the past 12 months, DigitalOcean Holdings Inc. has had a low of $23.38 and a high of $51.69. The fifty day moving average price for DOCN is $41.42 and a two-hundred day moving average price translates $34.50 for the stock.
The latest earnings results from DigitalOcean Holdings Inc. (NYSE: DOCN) was released for Jun, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0.44, beating analysts’ expectations of $0.41 by 0.03. This compares to -$0.07 EPS in the same period last year. The net profit margin was -2.40% and return on equity was 15.40% for DOCN. The company reported revenue of $169.81 million for the quarter, compared to $133.88 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 26.84 percent. For the current quarter, analysts expect DOCN to generate $173.31M in revenue.
DigitalOcean Holdings Inc.(DOCN) Company Profile
DigitalOcean Holdings, Inc., through its subsidiaries, operates a cloud computing platform in North America, Europe, Asia, and internationally. Its platform provides on-demand infrastructure and platform tools for developers, start-ups, and small and medium size businesses. The company offers infrastructure solutions across compute, storage, and networking, as well as enables developers to extend the native capabilities of its cloud with fully managed application, container, and database offerings. Its users include software engineers, researchers, data scientists, system administrators, students, and hobbyists. The company’s customers use its platform in various industry verticals and for a range of use cases, such as web and mobile applications, website hosting, e-commerce, media and gaming, personal web projects, managed services, and others. DigitalOcean Holdings, Inc. was incorporated in 2012 and is headquartered in New York, New York.
