DigitalOcean Holdings, Inc. (NYSE:DOCN) Given Consensus Recommendation of "Hold" by Brokerages

DigitalOcean Holdings, Inc. (NYSE:DOCN - Get Free Report) has earned an average recommendation of "Hold" from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $39.83.

A number of equities analysts recently commented on DOCN shares. Citigroup lowered their price target on shares of DigitalOcean from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen raised shares of DigitalOcean from a "hold" rating to a "buy" rating in a research report on Sunday. Barclays lowered their price target on shares of DigitalOcean from $48.00 to $38.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Stifel Nicolaus lowered their price target on shares of DigitalOcean from $40.00 to $33.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. Finally, Morgan Stanley reduced their price objective on shares of DigitalOcean from $52.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th.

Insider Activity

In other news, insider Bratin Saha sold 3,461 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $27.77, for a total value of $96,111.97. Following the sale, the insider now directly owns 294,546 shares in the company, valued at approximately $8,179,542.42. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DOCN. GAMMA Investing LLC raised its holdings in DigitalOcean by 336.1% in the 1st quarter. GAMMA Investing LLC now owns 1,064 shares of the company's stock valued at $36,000 after buying an additional 820 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in DigitalOcean by 135,100.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,352 shares of the company's stock valued at $46,000 after buying an additional 1,351 shares during the last quarter. SVB Wealth LLC bought a new position in DigitalOcean in the 1st quarter valued at approximately $48,000. SBI Securities Co. Ltd. bought a new position in DigitalOcean in the 4th quarter valued at approximately $66,000. Finally, Advisors Asset Management Inc. raised its holdings in DigitalOcean by 39.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company's stock valued at $74,000 after buying an additional 632 shares during the last quarter. Institutional investors own 49.77% of the company's stock.

DigitalOcean Trading Up 1.4%

NYSE DOCN opened at $28.27 on Friday. The firm's fifty day moving average price is $29.15 and its two-hundred day moving average price is $34.17. DigitalOcean has a 1 year low of $25.45 and a 1 year high of $47.02. The firm has a market capitalization of $2.57 billion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 2.07 and a beta of 1.78.

DigitalOcean (NYSE:DOCN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. The company had revenue of $210.70 million for the quarter, compared to analyst estimates of $208.63 million. DigitalOcean had a net margin of 13.46% and a negative return on equity of 60.69%. The company's revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, research analysts anticipate that DigitalOcean will post 1.01 EPS for the current fiscal 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).

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