DigitalOcean (DOCN) Stock Forecast, Price & News

13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for DigitalOcean in the last twelve months. There are currently 3 sell ratings, 5 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" DOCN shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in DOCN, but not buy additional shares or sell existing shares.
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13 equities research analysts have issued 12-month price objectives for DigitalOcean's shares. Their DOCN share price forecasts range from $25.00 to $103.00. On average, they anticipate the company's stock price to reach $43.83 in the next twelve months. This suggests a possible upside of 81.0% from the stock's current price.
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DigitalOcean's stock was trading at $25.47 at the beginning of 2023. Since then, DOCN stock has decreased by 4.9% and is now trading at $24.22.
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The company is scheduled to release its next quarterly earnings announcement on Monday, November 6th 2023.
View our DOCN earnings forecast.

DigitalOcean Holdings, Inc. (NASDAQ:DOCN) released its earnings results on Friday, August, 11th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $169.81 million for the quarter, compared to the consensus estimate of $169.75 million. DigitalOcean had a negative net margin of 5.27% and a negative trailing twelve-month return on equity of 32.38%.

ETFs with the largest weight of DigitalOcean (NASDAQ:DOCN) stock in their portfolio include Global X Cloud Computing ETF (CLOU), SPDR S&P Internet ETF (XWEB), First Trust Cloud Computing ETF (SKYY), Janus Henderson Small Cap Growth Alpha ETF (JSML), WisdomTree Cloud Computing Fund (WCLD), ProShares Ultra Nasdaq Cloud Computing ETF (SKYU), BlackRock Future Innovators ETF (BFTR) and Fidelity Cloud Computing ETF (FCLD).

DigitalOcean updated its FY 2023 earnings guidance on Friday, September, 22nd. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $680.00 million-$685.00 million, compared to the consensus revenue estimate of $683.61 million.

(DOCN) raised $751 million in an initial public offering (IPO) on Wednesday, March 24th 2021. The company issued 16,500,000 shares at a price of $44.00-$47.00 per share. Morgan Stanley, Goldman Sachs, J.P. Morgan, BofA Securities, Barclays, Keybanc Capital Markets, Canaccord Genuity, JMP Securities and Stifel acted as the underwriters for the IPO.

DigitalOcean trades on the NASDAQ under the ticker symbol "DOCN."

DigitalOcean's stock is owned by many different retail and institutional investors. Top institutional investors include Bank Julius Baer & Co. Ltd Zurich (27.95%), Alliancebernstein L.P. (3.85%), Geode Capital Management LLC (1.31%), Allspring Global Investments Holdings LLC (1.30%), Van Berkom & Associates Inc. (1.29%) and Principal Financial Group Inc. (0.98%). Insiders that own company stock include Access Industries Holdings Llc, Ah Capital Management, LLC, Alan Shapiro, Amy Butte, Carly D Brantz, Gabriel Monroy, Harold Matthew Norman, Jeffrey Scott Guy, Warren Jenson and William G Sorenson.
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Shares of DOCN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of DOCN stock can currently be purchased for approximately $24.22.

DigitalOcean (NASDAQ:DOCN) has a market capitalization of $2.15 billion and generates $576.32 million in revenue each year. The company earns $-27,800,000.00 in net income (profit) each year or ($0.36) on an earnings per share basis.

The company employs 1,204 workers across the globe.

DigitalOcean's mailing address is 101 AVENUE OF THE AMERICAS 10TH FLOOR, NEW YORK NY, 10013. The official website for the company is www.digitalocean.com. The company can be reached via phone at 646-827-4366 or via email at investors@digitalocean.com.