DigitalOcean (DOCN) Expected to Announce Earnings on Wednesday

DigitalOcean (NYSE:DOCN) is projected to post its quarterly earnings results after the market closes on Wednesday, February 19th. Analysts expect DigitalOcean to post earnings of $0.34 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

DigitalOcean Trading Down 1.5 %

DOCN stock opened at $45.24 on Wednesday. DigitalOcean has a twelve month low of $26.63 and a twelve month high of $46.46. The stock has a market cap of $4.17 billion, a P/E ratio of 53.22, a PEG ratio of 3.19 and a beta of 1.81. The company’s 50 day moving average is $37.84 and its two-hundred day moving average is $38.19.

Analysts Set New Price Targets

Several analysts have recently commented on DOCN shares. Needham & Company LLC restated a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Morgan Stanley raised shares of DigitalOcean from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $41.00 in a research note on Thursday, January 16th. Cantor Fitzgerald assumed coverage on DigitalOcean in a research report on Friday, January 17th. They issued a “neutral” rating and a $39.00 price objective on the stock. Stifel Nicolaus lifted their price objective on DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.73.

Insider Activity at DigitalOcean

In other DigitalOcean news, CFO Matt Steinfort sold 12,498 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.00, for a total transaction of $499,920.00. Following the transaction, the chief financial officer now owns 517,498 shares in the company, valued at $20,699,920. The trade was a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bratin Saha sold 4,289 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total value of $157,835.20. Following the sale, the insider now owns 372,762 shares in the company, valued at approximately $13,717,641.60. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,244 shares of company stock worth $1,416,208. 0.74% of the stock is owned by company insiders.

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).