DigitalOcean (NYSE:DOCN) Releases Q1 Earnings Guidance

DigitalOcean (NYSE:DOCN) issued an update on its first quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.41-0.46 for the period, compared to the consensus estimate of $0.44. The company issued revenue guidance of $207-209 million, compared to the consensus revenue estimate of $208.63 million. DigitalOcean also updated its FY25 guidance to $1.85-1.95 EPS.

Analysts Set New Price Targets

A number of research firms have weighed in on DOCN. Canaccord Genuity Group increased their price target on shares of DigitalOcean from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald lifted their target price on DigitalOcean from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Citigroup assumed coverage on DigitalOcean in a research note on Friday, January 24th. They set a “buy” rating and a $45.00 price target for the company. JMP Securities lifted their price objective on DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of DigitalOcean from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.27.

DigitalOcean Stock Down 8.3 %

DOCN stock opened at $28.64 on Friday. The stock’s 50 day moving average is $39.63 and its two-hundred day moving average is $39.03. DigitalOcean has a 52-week low of $26.63 and a 52-week high of $47.02. The company has a market capitalization of $2.64 billion, a PE ratio of 33.69, a P/E/G ratio of 3.12 and a beta of 1.87.

Insider Activity at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 3,948 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $36.63, for a total transaction of $144,615.24. Following the sale, the insider now owns 358,696 shares in the company, valued at $13,139,034.48. This represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.74% of the stock is currently owned by corporate insiders.

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).