DigitalOcean (NASDAQ:DOCN) Now Covered by UBS Group

Research analysts at UBS Group began coverage on shares of DigitalOcean (NASDAQ:DOCNGet Free Report) in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $40.00 price target on the stock. UBS Group’s target price points to a potential upside of 10.01% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Canaccord Genuity Group upped their price objective on DigitalOcean from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Oppenheimer increased their price objective on shares of DigitalOcean from $37.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Piper Sandler lifted their price objective on shares of DigitalOcean from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Needham & Company LLC restated a “hold” rating on shares of DigitalOcean in a research report on Monday, May 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $47.00 price target on shares of DigitalOcean in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.00.

Read Our Latest Stock Analysis on DOCN

DigitalOcean Price Performance

Shares of NASDAQ:DOCN opened at $36.36 on Wednesday. The firm’s 50 day simple moving average is $36.28 and its two-hundred day simple moving average is $35.04. The company has a market capitalization of $3.31 billion, a P/E ratio of 68.61, a P/E/G ratio of 3.84 and a beta of 1.83. DigitalOcean has a 1-year low of $19.39 and a 1-year high of $51.69.

DigitalOcean (NASDAQ:DOCNGet Free Report) last released its earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.23. DigitalOcean had a net margin of 7.01% and a negative return on equity of 26.29%. The company had revenue of $180.87 million for the quarter, compared to analysts’ expectations of $178.26 million. On average, sell-side analysts anticipate that DigitalOcean will post 0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of DigitalOcean by 20.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,816 shares of the company’s stock valued at $284,000 after purchasing an additional 2,023 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in DigitalOcean by 9.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 19,375 shares of the company’s stock valued at $466,000 after buying an additional 1,599 shares during the period. Versor Investments LP bought a new stake in DigitalOcean in the third quarter worth $547,000. Van Berkom & Associates Inc. lifted its position in DigitalOcean by 25.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,431,401 shares of the company’s stock worth $34,397,000 after buying an additional 288,500 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in DigitalOcean during the third quarter worth $211,000. Institutional investors own 49.77% of the company’s stock.

DigitalOcean Company Profile

(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).

See Also

Analyst Recommendations for DigitalOcean (NASDAQ:DOCN)

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