DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Given Average Rating of “Moderate Buy” by Brokerages

Shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCN) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $37.67.

A number of equities research analysts recently issued reports on the stock. Piper Sandler lowered their target price 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. UBS Group decreased their price objective on shares of DigitalOcean from $40.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Barclays decreased their price objective on shares of DigitalOcean from $43.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Stifel Nicolaus boosted their price objective on shares of DigitalOcean from $32.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, August 9th.

DigitalOcean Trading Up 2.8 %

Shares of DOCN opened at $41.89 on Friday. The stock has a market cap of $3.86 billion, a P/E ratio of 79.04, a PEG ratio of 3.26 and a beta of 1.83. The company has a 50-day moving average of $35.97 and a two-hundred day moving average of $35.96. DigitalOcean has a 12-month low of $19.39 and a 12-month high of $43.88.

DigitalOcean (NASDAQ:DOCN) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.09. DigitalOcean had a net margin of 9.30% and a negative return on equity of 31.71%. The business had revenue of $192.00 million during the quarter, compared to the consensus estimate of $188.63 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, analysts forecast that DigitalOcean will post 0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. 180 Wealth Advisors LLC raised its holdings in DigitalOcean by 4.4% in the second quarter. 180 Wealth Advisors LLC now owns 7,120 shares of the company’s stock valued at $237,000 after acquiring an additional 297 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in DigitalOcean by 4.5% in the second quarter. Harbor Capital Advisors Inc. now owns 8,426 shares of the company’s stock valued at $293,000 after acquiring an additional 359 shares in the last quarter. Assetmark Inc. raised its holdings in DigitalOcean by 16.7% in the fourth quarter. Assetmark Inc. now owns 2,809 shares of the company’s stock valued at $103,000 after acquiring an additional 403 shares in the last quarter. Sei Investments Co. raised its holdings in DigitalOcean by 1.5% in the second quarter. Sei Investments Co. now owns 30,834 shares of the company’s stock valued at $1,071,000 after acquiring an additional 468 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in DigitalOcean by 10.0% in the first quarter. Empowered Funds LLC now owns 7,852 shares of the company’s stock valued at $300,000 after acquiring an additional 711 shares in the last quarter. 49.77% of the stock is owned by institutional investors and hedge funds.

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).