DigitalOcean (DOCN) to Release Quarterly Earnings on Friday

DigitalOcean (NASDAQ:DOCN) is set to release its earnings data before the market opens on Friday, May 10th. Analysts expect DigitalOcean to post earnings of $0.38 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

DigitalOcean (NASDAQ:DOCN) last issued its earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.23. DigitalOcean had a negative return on equity of 19.85% and a net margin of 0.12%. The firm had revenue of $180.87 million for the quarter, compared to analyst estimates 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 Stock Performance

Shares of DOCN opened at $34.83 on Wednesday. DigitalOcean has a 1 year low of $19.39 and a 1 year high of $51.69. The firm has a fifty day moving average of $36.81 and a 200-day moving average of $33.82. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 3,486.49, a price-to-earnings-growth ratio of 2.94 and a beta of 1.83.

Wall Street Analysts Forecast Growth

DOCN has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of DigitalOcean from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Oppenheimer boosted their price objective on DigitalOcean from $37.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. JMP Securities reiterated a “market outperform” rating and set a $47.00 price objective on shares of DigitalOcean in a research report on Thursday, March 21st. Finally, Barclays boosted their price objective on DigitalOcean from $37.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DigitalOcean currently has an average rating of “Moderate Buy” and an average price target of $36.78.

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).