DigitalOcean - DOCN Stock Forecast, Price & News

12 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for DigitalOcean in the last twelve months. There are currently 2 sell ratings, 4 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street equities 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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12 analysts have issued 1 year target prices for DigitalOcean's shares. Their DOCN share price forecasts range from $27.00 to $63.00. On average, they predict the company's stock price to reach $40.38 in the next twelve months. This suggests a possible upside of 13.8% 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 shares have increased by 39.3% and is now trading at $35.49.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023.
View our DOCN earnings forecast.

DigitalOcean Holdings, Inc. (NASDAQ:DOCN) announced its quarterly earnings results on Thursday, February, 16th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.19 by $0.09. The firm had revenue of $163 million for the quarter, compared to analyst estimates of $161.10 million. DigitalOcean had a negative trailing twelve-month return on equity of 2.36% and a negative net margin of 4.21%. The business's quarterly revenue was up 36.2% compared to the same quarter last year. During the same period last year, the business posted ($0.11) EPS.

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), ProShares Ultra Cloud Computing (SKYU), WisdomTree Cloud Computing Fund (WCLD), ALPS O'Shares Global Internet Giants ETF (OGIG), BlackRock Future Innovators ETF (BFTR) and Wedbush ETFMG Global Cloud Technology ETF (IVES).

DigitalOcean issued an update on its first quarter 2023 earnings guidance on Monday, February, 20th. The company provided earnings per share (EPS) guidance of $0.28-$0.29 for the period, compared to the consensus EPS estimate of $0.24. The company issued revenue guidance of $163.00 million-$165.00 million, compared to the consensus revenue estimate of $168.88 million.

(DOCN) raised $751 million in an initial public offering 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 a variety of institutional and retail investors. Top institutional shareholders include Alliancebernstein L.P. (2.84%), First Trust Advisors LP (2.56%), Allspring Global Investments Holdings LLC (1.32%), Van Berkom & Associates Inc. (1.28%), Geode Capital Management LLC (1.20%) and Principal Financial Group Inc. (0.92%). 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 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 $35.49.

DigitalOcean (NASDAQ:DOCN) has a market capitalization of $3.44 billion and generates $576.32 million in revenue each year. The company earns $-24,280,000.00 in net income (profit) each year or ($0.23) 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.