DigitalOcean (NYSE:DOCN) Price Target Raised to $105.00 at Citizens Jmp

DigitalOcean (NYSE:DOCN) had its price objective increased by Citizens Jmp from $83.00 to $105.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other research analysts have also recently issued reports on DOCN. Citigroup reissued a “buy” rating on shares of DigitalOcean in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DigitalOcean in a research report on Monday, December 29th. Stifel Nicolaus set a $57.00 target price on DigitalOcean in a report on Tuesday, February 24th. Barclays increased their price target on DigitalOcean from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Finally, UBS Group raised their price target on DigitalOcean from $48.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.08.

DigitalOcean Stock Performance

Shares of NYSE:DOCN opened at $85.51 on Thursday. The firm’s 50 day simple moving average is $63.86 and its 200-day simple moving average is $50.63. DigitalOcean has a one year low of $25.45 and a one year high of $88.84. The firm has a market cap of $7.87 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 84.55 and a beta of 1.76.

Insiders Place Their Bets

In other news, CFO Matt Steinfort sold 20,000 shares of DigitalOcean stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $55.40, for a total value of $1,108,000.00. Following the transaction, the chief financial officer directly owned 545,916 shares in the company, valued at approximately $30,243,746.40. This trade represents a 3.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Cherie Barrett sold 22,000 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $54.77, for a total value of $1,204,940.00. Following the completion of the transaction, the chief accounting officer directly owned 62,469 shares of the company’s stock, valued at approximately $3,421,427.13. The trade was a 26.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DigitalOcean

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOCN. Rockefeller Capital Management L.P. raised its holdings in DigitalOcean by 309.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,669 shares of the company’s stock worth $225,000 after purchasing an additional 3,528 shares in the last quarter. Alpine Global Management LLC bought a new stake in shares of DigitalOcean in the 4th quarter valued at about $577,000. Pacer Advisors Inc. grew its position in shares of DigitalOcean by 225.7% in the 4th quarter. Pacer Advisors Inc. now owns 16,426 shares of the company’s stock worth $790,000 after buying an additional 11,382 shares during the last quarter. Invesco Ltd. grew its position in shares of DigitalOcean by 12.3% in the 4th quarter. Invesco Ltd. now owns 288,571 shares of the company’s stock worth $13,886,000 after buying an additional 31,618 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of DigitalOcean during the 4th quarter worth approximately $400,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.

DigitalOcean News Roundup

Here are the key news stories impacting DigitalOcean this week:

• Positive Sentiment: Analyst upgrade — Citizens Jmp raised its price target to $105 and maintains a “market outperform” rating, signaling significant upside vs. the current level and providing analyst support for the stock. Benzinga
• Positive Sentiment: Market reaction pointing to opportunity — some coverage frames DOCN as a momentum/growth story (e.g., pieces highlighting its large one‑year gain), which can attract buyers after pullbacks. MSN
• Neutral Sentiment: Official offering pricing — DigitalOcean priced an upsized underwritten offering of 10,389,611 shares for roughly $800M in gross proceeds; underwriters have a 30‑day option for additional shares. This is a definitive capital‑raise event but details leave valuation/dilution to be calculated. BusinessWire
• Neutral Sentiment: Company filing/announcement — DigitalOcean disclosed the underwriting agreement and equity offering to fund growth initiatives; procedural but material for capital structure. TipRanks
• Neutral Sentiment: Local/financial press coverage on the raise — outlets report the planned $800M stock sale; useful for context but largely restates the offering news. BizWest
• Neutral Sentiment: Technical/market milestone — coverage noting a new 52‑week high earlier in the run; shows recent strength but not directly tied to the offering. AmericanBankingNews
• Negative Sentiment: Investor concern/dilution — analysis and headlines say the $800M upsized offering pressured the stock and prompted a pullback as investors digest dilution and timing. Seeking Alpha
• Negative Sentiment: Negative headlines — some pieces explicitly say the upsized offering “drags” or causes a plunge, reflecting short‑term selling pressure and heightened volatility. MSN
• Negative Sentiment: Market volatility explained — articles asking “why is DigitalOcean plunging today?” reflect investor concern and amplify downward momentum in the short term. MSN

About DigitalOcean

DigitalOcean Holdings, Inc is a cloud infrastructure provider that focuses on simplicity, performance and developer experience. The company offers a range of cloud services designed to help software developers, startups and small- to medium-sized businesses deploy, manage and scale applications. Its flagship offering, Droplets, provides virtual private servers that can be configured with various CPU, memory and storage options. In addition to compute instances, DigitalOcean’s platform includes managed Kubernetes, scalable object and block storage, managed databases, load balancers and networking capabilities such as Virtual Private Cloud (VPC) and Floating IPs.

Founded in 2011 and headquartered in New York City, DigitalOcean was created with the goal of making cloud computing more accessible to individual developers and smaller teams.