DigitalOcean (NASDAQ:DOCN – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.600-1.700 for the period, compared to the consensus estimate of 1.640. The company issued revenue guidance of $770.0 million-$775.0 million, compared to the consensus revenue estimate of $769.7 million. DigitalOcean also updated its FY24 guidance to $1.60-$1.70 EPS.
DigitalOcean Trading Up 11.9 %
NASDAQ DOCN traded up $3.47 during trading hours on Friday, hitting $32.57. The company’s stock had a trading volume of 5,162,423 shares, compared to its average volume of 1,272,406. The company has a market capitalization of $2.97 billion, a PE ratio of 61.45, a price-to-earnings-growth ratio of 3.01 and a beta of 1.81. DigitalOcean has a 52 week low of $19.39 and a 52 week high of $41.58. The company’s 50-day simple moving average is $33.59 and its two-hundred day simple moving average is $35.62.
DigitalOcean (NASDAQ:DOCN – Get Free Report) last posted its earnings results on Friday, May 10th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. DigitalOcean had a negative return on equity of 26.29% and a net margin of 7.01%. The company had revenue of $184.73 million for the quarter, compared to analyst estimates of $182.70 million. Research analysts anticipate that DigitalOcean will post 0.78 EPS for the current fiscal year.
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Insiders Place Their Bets
In other news, Director Amy Butte sold 5,220 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $37.46, for a total value of $195,541.20. Following the sale, the director now owns 36,417 shares of the company’s stock, valued at $1,364,180.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.74% of the company’s stock.
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).
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