DigitalOcean (NYSE:DOCN) Updates FY25 Earnings Guidance

DigitalOcean (NYSE:DOCN - Get Free Report) updated its FY25 earnings guidance on Friday. The company provided earnings per share guidance of $1.85-1.95 for the period, compared to the consensus earnings per share estimate of $1.91. The company issued revenue guidance of $870-890 million, compared to the consensus revenue estimate of $883.72 million. DigitalOcean also updated its Q1 guidance to $0.41-0.46 EPS.

Analyst Ratings Changes

Several equities analysts recently commented on DOCN shares. UBS Group raised their target price on DigitalOcean from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Citigroup began coverage on shares of DigitalOcean in a research note on Friday, January 24th. They issued a "buy" rating and a $45.00 target price on the stock. Cantor Fitzgerald increased their target price on shares of DigitalOcean from $39.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Needham & Company LLC restated a "hold" rating on shares of DigitalOcean in a research report on Monday. Finally, Canaccord Genuity Group cut their target price on shares of DigitalOcean from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $42.18.

DigitalOcean Price Performance

Shares of DOCN stock traded up $5.16 on Wednesday, reaching $31.07. 3,471,614 shares of the stock were exchanged, compared to its average volume of 1,284,094. DigitalOcean has a one year low of $25.15 and a one year high of $47.02. The stock has a market cap of $2.86 billion, a PE ratio of 36.55, a P/E/G ratio of 3.12 and a beta of 1.87. The stock has a 50 day moving average price of $38.32 and a 200 day moving average price of $38.56.

Insider Buying and Selling at DigitalOcean

In related news, insider Bratin Saha sold 4,289 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total value of $157,835.20. Following the sale, the insider now directly owns 372,762 shares in the company, valued at $13,717,641.60. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.74% of the company's stock.

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).