DigitalOcean (NYSE:DOCN) Issues Q1 Earnings Guidance

DigitalOcean (NYSE:DOCN) issued an update on its first quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.41-0.46 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Citigroup assumed coverage on shares of DigitalOcean in a research note on Friday, January 24th. They set a “buy” rating and a $45.00 target price on the stock. Bank of America increased their price target on shares of DigitalOcean from $28.00 to $31.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. UBS Group upped their price target on DigitalOcean from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Canaccord Genuity Group boosted their price objective on shares of DigitalOcean from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Cantor Fitzgerald raised their target price on shares of DigitalOcean from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $43.27.

DigitalOcean Trading Down 8.3 %

DigitalOcean stock traded down $2.59 during midday trading on Friday, hitting $28.64. The stock had a trading volume of 3,024,798 shares, compared to its average volume of 1,254,801. The business has a fifty day moving average price of $39.86 and a 200 day moving average price of $39.11. DigitalOcean has a 12 month low of $26.63 and a 12 month high of $47.02. The stock has a market cap of $2.64 billion, a P/E ratio of 33.69, a P/E/G ratio of 3.12 and a beta of 1.80.

Insider Transactions at DigitalOcean

In other news, insider Bratin Saha sold 3,948 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $36.63, for a total transaction of $144,615.24. Following the completion of the transaction, the insider now owns 358,696 shares of the company’s stock, valued at approximately $13,139,034.48. The trade was a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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).