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

DigitalOcean Holdings, Inc. (NASDAQ:DOCN) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $36.78.

DOCN has been the subject of several recent analyst reports. Oppenheimer boosted their price objective on shares of DigitalOcean from $37.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. JMP Securities reiterated a “market outperform” rating and set a $47.00 price objective on shares of DigitalOcean in a report on Thursday, March 21st. Barclays boosted their target price on DigitalOcean from $37.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. Finally, Piper Sandler increased their price target on DigitalOcean from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in DigitalOcean by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,391,293 shares of the company’s stock worth $153,583,000 after acquiring an additional 202,179 shares during the period. Wolf Hill Capital Management LP acquired a new stake in shares of DigitalOcean during the fourth quarter worth $86,834,000. Van Berkom & Associates Inc. grew its position in shares of DigitalOcean by 25.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,431,401 shares of the company’s stock valued at $34,397,000 after purchasing an additional 288,500 shares during the period. Principal Financial Group Inc. increased its stake in DigitalOcean by 7.0% in the first quarter. Principal Financial Group Inc. now owns 921,619 shares of the company’s stock valued at $35,187,000 after purchasing an additional 60,600 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in DigitalOcean by 36.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 901,325 shares of the company’s stock worth $33,070,000 after buying an additional 241,706 shares during the period. 49.77% of the stock is currently owned by institutional investors and hedge funds.

DigitalOcean Trading Down 3.1 %

Shares of DOCN opened at $34.24 on Tuesday. The firm has a market capitalization of $3.12 billion, a P/E ratio of 3,427.43, a P/E/G ratio of 3.03 and a beta of 1.83. DigitalOcean has a 12-month low of $19.39 and a 12-month high of $51.69. The firm has a fifty day moving average price of $36.84 and a 200-day moving average price of $33.60.

DigitalOcean (NASDAQ:DOCN) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.08 by $0.23. The firm had revenue of $180.87 million for the quarter, compared to analyst estimates of $178.26 million. DigitalOcean had a negative return on equity of 19.85% and a net margin of 0.12%. Analysts predict that DigitalOcean will post 0.77 earnings per share for the current year.

About DigitalOcean

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).