DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Receives Consensus Rating of “Moderate Buy” from Brokerages

DigitalOcean Holdings, Inc. (NASDAQ:DOCN) has earned an average rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $36.78.

Several equities research analysts have recently weighed in on the company. Barclays raised their price objective on DigitalOcean from $37.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. Piper Sandler lifted their price target on DigitalOcean from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Oppenheimer upped their price objective on shares of DigitalOcean from $37.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $47.00 target price on shares of DigitalOcean in a research report on Thursday, March 21st.

DigitalOcean Trading Up 1.6 %

Shares of NASDAQ DOCN opened at $34.05 on Tuesday. The firm has a 50-day moving average of $37.06 and a two-hundred day moving average of $33.43. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 3,408.41, a PEG ratio of 2.87 and a beta of 1.80. DigitalOcean has a twelve month low of $19.39 and a twelve month high of $51.69.

DigitalOcean (NASDAQ:DOCN) last issued its earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.23. The firm had revenue of $180.87 million during the quarter, compared to analysts’ expectations of $178.26 million. DigitalOcean had a net margin of 0.12% and a negative return on equity of 19.85%. As a group, research analysts predict that DigitalOcean will post 0.77 earnings per share for the current year.

Institutional Trading of DigitalOcean

Several institutional investors have recently made changes to their positions in DOCN. Assetmark Inc. boosted its stake in shares of DigitalOcean by 16.7% during the 4th quarter. Assetmark Inc. now owns 2,809 shares of the company’s stock valued at $103,000 after buying an additional 403 shares during the period. Householder Group Estate & Retirement Specialist LLC increased its position in DigitalOcean by 41.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,399 shares of the company’s stock worth $88,000 after purchasing an additional 698 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of DigitalOcean during the 1st quarter valued at about $34,000. Tennessee Valley Asset Management Partners acquired a new position in DigitalOcean in the fourth quarter worth approximately $35,000. Finally, Arizona State Retirement System raised its position in DigitalOcean by 6.4% during the fourth quarter. Arizona State Retirement System now owns 16,144 shares of the company’s stock valued at $592,000 after acquiring an additional 971 shares in the last quarter. 49.77% of the stock is currently 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).