DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Receives $36.78 Average PT from Analysts

Shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCN) have been given an average rating of “Moderate Buy” by the ten research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $36.78.

A number of research analysts have recently issued reports on DOCN shares. Piper Sandler boosted their price objective on DigitalOcean from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Oppenheimer boosted their target price on DigitalOcean from $37.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Barclays increased their price target on DigitalOcean from $37.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, January 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $47.00 price objective on shares of DigitalOcean in a research note on Thursday, March 21st.

Institutional Trading of DigitalOcean

A number of hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in shares of DigitalOcean during the first quarter valued at about $34,000. Tennessee Valley Asset Management Partners purchased a new position in shares of DigitalOcean in the fourth quarter worth $35,000. FinTrust Capital Advisors LLC acquired a new stake in shares of DigitalOcean during the first quarter worth $36,000. Headlands Technologies LLC purchased a new stake in shares of DigitalOcean during the fourth quarter valued at $67,000. Finally, Geneos Wealth Management Inc. increased its position in shares of DigitalOcean by 107.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,123 shares of the company’s stock valued at $78,000 after acquiring an additional 1,100 shares during the period. 49.77% of the stock is owned by hedge funds and other institutional investors.

DigitalOcean Price Performance

DOCN opened at $34.24 on Tuesday. The business has a fifty day simple moving average of $36.84 and a 200 day simple moving average of $33.60. DigitalOcean has a 1 year low of $19.39 and a 1 year high of $51.69. The company has a market capitalization of $3.12 billion, a PE ratio of 3,427.43, a price-to-earnings-growth ratio of 3.03 and a beta of 1.83.

DigitalOcean (NASDAQ:DOCN) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.23. DigitalOcean had a net margin of 0.12% and a negative return on equity of 19.85%. The business had revenue of $180.87 million during the quarter, compared to analysts’ expectations of $178.26 million. Equities analysts anticipate that DigitalOcean will post 0.77 earnings per share for the current fiscal year.

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).