DigitalOcean (DOCN) to Release Quarterly Earnings on Friday

DigitalOcean (NASDAQ:DOCN) is scheduled to issue its quarterly earnings data before the market opens on Friday, May 10th. Analysts expect the company to announce earnings of $0.38 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 announced its earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.23. DigitalOcean had a net margin of 0.12% and a negative return on equity of 19.85%. The business had revenue of $180.87 million for the quarter, compared to the consensus estimate of $178.26 million. On average, analysts expect DigitalOcean to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

DigitalOcean Trading Down 0.1 %

Shares of DOCN opened at $34.83 on Wednesday. DigitalOcean has a twelve month low of $19.39 and a twelve month high of $51.69. The company has a market cap of $3.18 billion, a P/E ratio of 3,486.49, a P/E/G ratio of 2.94 and a beta of 1.83. The company’s fifty day simple moving average is $36.81 and its 200-day simple moving average is $33.82.

Analyst Ratings Changes

DOCN has been the topic of several recent analyst reports. Oppenheimer increased their target price on shares of DigitalOcean from $37.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Piper Sandler increased their target price on shares of DigitalOcean from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $47.00 price target on shares of DigitalOcean in a research note on Thursday, March 21st. Finally, Barclays raised their price target on shares of DigitalOcean from $37.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.78.

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).