DigitalOcean (NYSE:DOCN) Releases Q1 Earnings Guidance

DigitalOcean (NYSE:DOCN) updated its first quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $0.41-0.46 for the period, compared to the consensus estimate of $0.44. The company issued revenue guidance of $207-209 million, compared to the consensus revenue estimate of $208.63 million. DigitalOcean also updated its FY25 guidance to $1.85-1.95 EPS.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DOCN shares. Bank of America raised their target price on DigitalOcean from $28.00 to $31.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. UBS Group boosted their price objective on shares of DigitalOcean from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Cantor Fitzgerald increased their target price on shares of DigitalOcean from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Stifel Nicolaus boosted their price target on shares of DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised their price objective on DigitalOcean from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.27.

DigitalOcean Trading Down 8.3 %

NYSE:DOCN opened at $28.64 on Friday. The stock has a market capitalization of $2.64 billion, a PE ratio of 33.69, a P/E/G ratio of 3.12 and a beta of 1.87. The firm has a fifty day simple moving average of $39.63 and a 200 day simple moving average of $39.01. DigitalOcean has a 1-year low of $26.63 and a 1-year high of $47.02.

Insiders Place Their Bets

In related news, insider Bratin Saha sold 4,289 shares of DigitalOcean stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total transaction of $157,835.20. Following the completion of the sale, the insider now owns 372,762 shares of the company’s stock, valued at approximately $13,717,641.60. The trade was a 1.14 % decrease in their position. The sale was disclosed in a 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).