DigitalOcean (NYSE:DOCN) Releases FY25 Earnings Guidance

by · The Markets Daily

DigitalOcean (NYSE:DOCN – Get Free Report) issued an update on its FY25 earnings guidance on Friday morning. 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 %

NYSE DOCN traded down $2.59 during trading hours on Friday, hitting $28.64. 3,024,792 shares of the company were exchanged, compared to its average volume of 1,254,801. DigitalOcean has a 52 week low of $26.63 and a 52 week high of $47.02. The stock has a 50-day moving average price of $39.86 and a 200 day moving average price of $39.11. The stock has a market cap of $2.64 billion, a PE ratio of 33.69, a price-to-earnings-growth ratio of 3.12 and a beta of 1.80.

Analyst Upgrades and Downgrades

DOCN has been the topic of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Citigroup began coverage on DigitalOcean in a report on Friday, January 24th. They issued a “buy” rating and a $45.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research note on Wednesday, February 26th. Canaccord Genuity Group upped their price objective on DigitalOcean from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of DigitalOcean in a research report on Saturday, March 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $43.27.

Check Out Our Latest Stock Report on DOCN

Insider Activity

In other 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 transaction of $157,835.20. Following the transaction, the insider now directly owns 372,762 shares in the company, valued at approximately $13,717,641.60. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.74% of the company’s stock.

About DigitalOcean

(Get Free Report)

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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