DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Receives $62.70 Average PT from Analysts

Shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCNGet Rating) have received an average recommendation of “Hold” from the eleven brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $62.70.

A number of research firms have recently weighed in on DOCN. Morgan Stanley lowered DigitalOcean from an “equal weight” rating to an “underweight” rating and set a $45.00 price objective on the stock. in a research report on Monday, July 11th. Oppenheimer lowered their target price on shares of DigitalOcean from $80.00 to $65.00 in a research note on Tuesday, August 9th. JMP Securities lowered their target price on shares of DigitalOcean from $94.00 to $63.00 in a research note on Thursday, May 5th. The Goldman Sachs Group downgraded shares of DigitalOcean from a “buy” rating to a “sell” rating and lowered their target price for the stock from $54.00 to $40.00 in a research note on Wednesday, July 13th. Finally, Barclays lowered their target price on shares of DigitalOcean from $70.00 to $55.00 in a research note on Thursday, May 5th.

DigitalOcean Stock Down 0.6 %

Shares of NASDAQ DOCN opened at $45.42 on Friday. DigitalOcean has a 52-week low of $30.05 and a 52-week high of $133.40. The business’s 50 day moving average is $42.82 and its two-hundred day moving average is $47.88. The company has a quick ratio of 16.59, a current ratio of 16.59 and a debt-to-equity ratio of 30.38. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of -126.16 and a beta of 1.48.

DigitalOcean (NASDAQ:DOCNGet Rating) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. DigitalOcean had a negative return on equity of 7.59% and a negative net margin of 7.78%. The business had revenue of $133.88 million for the quarter, compared to analyst estimates of $134.48 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. The company’s revenue was up 29.0% on a year-over-year basis. Research analysts predict that DigitalOcean will post -0.12 EPS for the current year.

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, General Counsel Alan Shapiro sold 14,107 shares of the company’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $49.99, for a total value of $705,208.93. Following the completion of the transaction, the general counsel now owns 282,048 shares in the company, valued at $14,099,579.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CMO Carly D. Brantz sold 16,610 shares of the company’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $40.40, for a total value of $671,044.00. Following the completion of the sale, the chief marketing officer now directly owns 102,671 shares of the company’s stock, valued at $4,147,908.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Alan Shapiro sold 14,107 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $49.99, for a total transaction of $705,208.93. Following the completion of the sale, the general counsel now directly owns 282,048 shares of the company’s stock, valued at $14,099,579.52. The disclosure for this sale can be found here. Insiders sold 37,491 shares of company stock worth $1,707,804 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On DigitalOcean

A number of institutional investors and hedge funds have recently made changes to their positions in DOCN. CWM LLC purchased a new position in DigitalOcean during the fourth quarter worth about $25,000. Prospera Financial Services Inc raised its holdings in DigitalOcean by 136.6% during the second quarter. Prospera Financial Services Inc now owns 620 shares of the company’s stock worth $26,000 after purchasing an additional 358 shares in the last quarter. Signaturefd LLC raised its holdings in DigitalOcean by 706.7% during the first quarter. Signaturefd LLC now owns 484 shares of the company’s stock worth $28,000 after purchasing an additional 424 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in DigitalOcean during the fourth quarter worth about $30,000. Finally, Truvestments Capital LLC purchased a new position in DigitalOcean during the second quarter worth about $36,000. 61.99% of the stock is owned by hedge funds and other institutional investors.

DigitalOcean Company Profile

(Get Rating)

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.

Featured Stories

Analyst Recommendations for DigitalOcean (NASDAQ:DOCN)

Receive News & Ratings for DigitalOcean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DigitalOcean and related companies with MarketBeat.com's FREE daily email newsletter.