Analysts Set DigitalOcean Holdings, Inc. (NYSE:DOCN) PT at $39.83

DigitalOcean Holdings, Inc. (NYSE:DOCN - Get Free Report) has earned an average rating of "Hold" from the thirteen ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $39.83.

A number of equities research analysts have weighed in on the company. Citigroup reduced their price objective on DigitalOcean from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group decreased their price target on DigitalOcean from $46.00 to $41.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Wall Street Zen raised shares of DigitalOcean from a "hold" rating to a "buy" rating in a research note on Sunday. Stifel Nicolaus reduced their target price on shares of DigitalOcean from $40.00 to $33.00 and set a "hold" rating for the company in a research note on Monday, April 7th. Finally, Morgan Stanley dropped their price target 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 Buying and Selling

In related news, insider Bratin Saha sold 3,461 shares of DigitalOcean stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $27.77, for a total transaction of $96,111.97. Following the completion of the sale, the insider owned 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 can be accessed through this hyperlink. Company insiders own 0.74% of the company's stock.

Institutional Trading of DigitalOcean

A number of hedge funds have recently bought and sold shares of DOCN. Hillsdale Investment Management Inc. increased its stake in shares of DigitalOcean by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 84,500 shares of the company's stock valued at $2,879,000 after acquiring an additional 300 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of DigitalOcean by 2.8% in the 4th quarter. Focus Partners Wealth now owns 12,455 shares of the company's stock valued at $424,000 after purchasing an additional 338 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of DigitalOcean by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,866 shares of the company's stock valued at $234,000 after buying an additional 436 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of DigitalOcean by 39.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company's stock worth $74,000 after buying an additional 632 shares during the last quarter. Finally, BSW Wealth Partners raised its position in shares of DigitalOcean by 4.8% in the 1st quarter. BSW Wealth Partners now owns 15,256 shares of the company's stock worth $509,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 49.77% of the company's stock.

DigitalOcean Stock Up 1.3%

Shares of DOCN traded up $0.37 during trading on Friday, reaching $28.39. 1,821,095 shares of the company traded hands, compared to its average volume of 1,297,214. The stock has a 50-day simple moving average of $29.23 and a 200-day simple moving average of $34.02. The stock has a market cap of $2.58 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 2.09 and a beta of 1.76. DigitalOcean has a twelve month low of $25.45 and a twelve month high of $47.02.

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

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).