DigitalOcean (DOCN) to Release Earnings on Thursday

DigitalOcean (NASDAQ:DOCN) is scheduled to post its quarterly earnings results after the market closes on Thursday, August 8th. Analysts expect DigitalOcean to post earnings of $0.39 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

DigitalOcean (NASDAQ:DOCN) last issued its quarterly earnings results on Friday, May 10th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. DigitalOcean had a negative return on equity of 26.29% and a net margin of 7.01%. The company had revenue of $184.73 million for the quarter, compared to analyst estimates of $182.70 million. On average, analysts expect DigitalOcean to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

DigitalOcean Stock Up 2.0 %

Shares of DigitalOcean stock opened at $27.82 on Wednesday. DigitalOcean has a fifty-two week low of $19.39 and a fifty-two week high of $41.58. The firm has a market cap of $2.53 billion, a PE ratio of 52.49, a P/E/G ratio of 3.01 and a beta of 1.81. The business’s fifty day moving average is $34.01 and its two-hundred day moving average is $35.74.

Analysts Set New Price Targets

DOCN has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their price target on DigitalOcean from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a research report on Monday, May 13th. UBS Group began coverage on DigitalOcean in a research report on Wednesday, May 22nd. They issued a “neutral” rating and a $40.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $47.00 target price on shares of DigitalOcean in a research report on Monday, May 13th. Finally, Piper Sandler cut their target price on DigitalOcean from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, DigitalOcean presently has an average rating of “Hold” and a consensus price target of $37.78.

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, Director Amy Butte sold 5,220 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $37.46, for a total value of $195,541.20. Following the transaction, the director now directly owns 36,417 shares of the company’s stock, valued at $1,364,180.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.74% of the stock is currently owned by corporate insiders.

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).