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 EPS guidance of $0.41-0.46 for the period, compared to the consensus EPS 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

Several brokerages recently commented on DOCN. Cantor Fitzgerald increased their price target on DigitalOcean from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of DigitalOcean in a report on Wednesday, February 26th. UBS Group raised their target price on DigitalOcean from $39.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Stifel Nicolaus lifted their price objective on shares of DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lifted their price target on DigitalOcean from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $43.27.

DigitalOcean Stock Performance

Shares of DOCN traded down $2.59 during midday trading on Friday, hitting $28.64. 3,024,798 shares of the company traded hands, compared to its average volume of 1,254,801. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 3.12 and a beta of 1.80. The firm has a 50 day moving average of $39.86 and a 200-day moving average of $39.11. DigitalOcean has a 52 week low of $26.63 and a 52 week high of $47.02.

Insider Transactions at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 3,948 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $36.63, for a total value of $144,615.24. Following the completion of the sale, the insider now directly owns 358,696 shares in the company, valued at approximately $13,139,034.48. This trade represents a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.74% of the company’s stock.

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).