Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN – Get Free Report) hit a new 52-week high on Friday after Barclays raised their price target on the stock from $38.00 to $48.00. Barclays currently has an overweight rating on the stock. DigitalOcean traded as high as $44.36 and last traded at $43.82, with a volume of 65806 shares. The stock had previously closed at $43.54.
A number of other equities research analysts have also recently issued reports on DOCN. Canaccord Genuity Group raised their target price on DigitalOcean from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Stifel Nicolaus lifted their price objective 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. Piper Sandler reduced their price objective on shares of DigitalOcean from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, 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 report on Friday, August 9th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, DigitalOcean has an average rating of “Moderate Buy” and an average price target of $39.44.
View Our Latest Stock Report on DigitalOcean
Hedge Funds Weigh In On DigitalOcean
DigitalOcean Price Performance
The company has a market capitalization of $4.05 billion, a P/E ratio of 61.07, a price-to-earnings-growth ratio of 3.38 and a beta of 1.83. The company has a fifty day simple moving average of $38.09 and a two-hundred day simple moving average of $36.09.
DigitalOcean (NYSE:DOCN – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.09. DigitalOcean had a negative return on equity of 31.71% and a net margin of 9.30%. The firm had revenue of $192.00 million during the quarter, compared to analyst estimates of $188.63 million. During the same period in the previous year, the company earned $0.11 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities analysts anticipate that DigitalOcean Holdings, Inc. will post 0.86 earnings per share for the current year.
About DigitalOcean
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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