DigitalOcean (NYSE:DOCN – Get Free Report) updated its FY25 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $1.85-1.95 for the period, compared to the consensus 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.
DigitalOcean Stock Down 8.3 %
Shares of NYSE DOCN opened at $28.64 on Friday. The firm has a 50-day simple moving average of $39.63 and a 200-day simple moving average of $39.01. DigitalOcean has a 52 week low of $26.63 and a 52 week high of $47.02. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 33.69, a price-to-earnings-growth ratio of 3.12 and a beta of 1.87.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on DOCN. JPMorgan Chase & Co. lifted their price objective on DigitalOcean from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Morgan Stanley upgraded shares of DigitalOcean from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $41.00 in a research note on Thursday, January 16th. Stifel Nicolaus increased their price target on shares of DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group restated a “buy” rating on shares of DigitalOcean in a report on Saturday, March 1st. Finally, JMP Securities raised their price target on shares of DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $43.27.
Insider Transactions at DigitalOcean
In related news, insider Bratin Saha sold 4,289 shares of DigitalOcean stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total transaction 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 Securities & Exchange Commission, which is available through the SEC website. 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).
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