DigitalOcean (DOCN) Projected to Post Earnings on Tuesday

DigitalOcean (NYSE:DOCN) is anticipated to release its earnings data before the market opens on Tuesday, February 25th. Analysts expect DigitalOcean to post earnings of $0.35 per share and revenue of $200.54 million for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

DigitalOcean Trading Down 8.6 %

DOCN opened at $39.35 on Monday. The stock has a market capitalization of $3.63 billion, a PE ratio of 46.29, a PEG ratio of 3.12 and a beta of 1.81. The firm has a 50-day moving average price of $38.66 and a two-hundred day moving average price of $38.99. DigitalOcean has a 1-year low of $26.63 and a 1-year high of $47.02.

Insider Activity at DigitalOcean

In related news, insider Bratin Saha sold 4,289 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $36.80, for a total value of $157,835.20. Following the completion of the transaction, the insider now directly owns 372,762 shares in the company, valued at approximately $13,717,641.60. The trade was a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matt Steinfort sold 12,498 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.00, for a total value of $499,920.00. Following the completion of the transaction, the chief financial officer now owns 517,498 shares of the company’s stock, valued at $20,699,920. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,255 shares of company stock worth $790,163. 0.74% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on DOCN. Cantor Fitzgerald initiated coverage on shares of DigitalOcean in a report on Friday, January 17th. They set a “neutral” rating and a $39.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. JMP Securities increased their target price on DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a research note on Monday, January 27th. Citigroup initiated coverage on DigitalOcean in a research note on Friday, January 24th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Morgan Stanley raised DigitalOcean from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $40.00 to $41.00 in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.40.

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).