DigitalOcean (DOCN) to Release Earnings on Monday

DigitalOcean (NYSE:DOCN) is set to release its earnings data before the market opens on Monday, November 4th. Analysts expect DigitalOcean to post earnings of $0.40 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.09. DigitalOcean had a negative return on equity of 31.71% and a net margin of 9.30%. The business had revenue of $192.00 million during the quarter, compared to analyst estimates of $188.63 million. During the same period in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts expect DigitalOcean to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

DigitalOcean Price Performance

Shares of DOCN stock opened at $40.81 on Friday. The business has a 50 day simple moving average of $40.45 and a 200 day simple moving average of $36.60. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 56.68, a price-to-earnings-growth ratio of 3.25 and a beta of 1.83. DigitalOcean has a 12-month low of $20.21 and a 12-month high of $44.80.

Analysts Set New Price Targets

DOCN has been the subject of a number of research reports. Canaccord Genuity Group increased their price target on DigitalOcean from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Barclays increased their price target on DigitalOcean from $38.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Piper Sandler decreased their price target on DigitalOcean from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. increased their price target on DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Stifel Nicolaus increased their price objective on DigitalOcean from $32.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.56.

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).