DigitalOcean (DOCN) Set to Announce Quarterly Earnings on Friday

DigitalOcean (NASDAQ:DOCN) is scheduled to announce its earnings data before the market opens on Friday, May 10th. Analysts expect the company to announce earnings of $0.38 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

DigitalOcean (NASDAQ:DOCN) last issued its quarterly 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. DigitalOcean had a net margin of 0.12% and a negative return on equity of 19.85%. The company had revenue of $180.87 million during the quarter, compared to analyst estimates of $178.26 million. On average, analysts expect DigitalOcean to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

DigitalOcean Stock Performance

DOCN opened at $33.67 on Thursday. The company has a market capitalization of $3.07 billion, a PE ratio of 3,370.37, a P/E/G ratio of 2.94 and a beta of 1.83. The stock’s fifty day moving average is $36.76 and its 200-day moving average is $33.92. DigitalOcean has a one year low of $19.39 and a one year high of $51.69.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DOCN. Barclays raised their target price on shares of DigitalOcean from $37.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, January 12th. JMP Securities reaffirmed a “market outperform” rating and set a $47.00 price objective on shares of DigitalOcean in a research report on Thursday, March 21st. Piper Sandler increased their price target on DigitalOcean from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Finally, Oppenheimer raised their price target on DigitalOcean from $37.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.78.

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).