DigitalOcean Holdings, Inc. (NYSE:DOCN) Receives $41.50 Consensus Price Target from Brokerages

Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) have earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $41.50.

A number of brokerages have issued reports on DOCN. JPMorgan Chase & Co. upped their price objective on shares of DigitalOcean from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Barclays upped their price target on shares of DigitalOcean from $38.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. UBS Group dropped their price target on shares of DigitalOcean from $40.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus upped their price target on shares of DigitalOcean from $32.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th.

DigitalOcean Price Performance

NYSE:DOCN opened at $36.40 on Friday. The firm has a 50-day moving average of $40.62 and a 200-day moving average of $36.98. The company has a market cap of $3.36 billion, a PE ratio of 42.82, a PEG ratio of 2.37 and a beta of 1.83. DigitalOcean has a one year low of $26.63 and a one year high of $44.80.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The business had revenue of $198.50 million during the quarter, compared to the consensus estimate of $196.64 million. During the same period in the prior year, the firm posted $0.17 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that DigitalOcean will post 1.01 earnings per share for the current fiscal year.

Institutional Trading of DigitalOcean

Several institutional investors and hedge funds have recently bought and sold shares of DOCN. 180 Wealth Advisors LLC increased its holdings in shares of DigitalOcean by 4.4% in the 2nd quarter. 180 Wealth Advisors LLC now owns 7,120 shares of the company’s stock worth $237,000 after buying an additional 297 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of DigitalOcean by 4.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 8,426 shares of the company’s stock worth $293,000 after buying an additional 359 shares during the last quarter. Sei Investments Co. increased its holdings in shares of DigitalOcean by 1.5% in the 2nd quarter. Sei Investments Co. now owns 30,834 shares of the company’s stock worth $1,071,000 after buying an additional 468 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of DigitalOcean by 56.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company’s stock worth $54,000 after buying an additional 483 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of DigitalOcean by 17.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,744 shares of the company’s stock worth $151,000 after buying an additional 566 shares during the last quarter. 49.77% of the stock is currently owned by hedge funds and other institutional investors.

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).