DigitalOcean (DOCN) Set to Announce Quarterly Earnings on Friday

DigitalOcean (NASDAQ:DOCN) is scheduled to be releasing 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 are interested in participating in the company’s earnings conference call can do so using this link.

DigitalOcean (NASDAQ:DOCN) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.31 earnings per share (EPS) 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 company 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

DigitalOcean stock opened at $33.67 on Thursday. The stock has a 50-day simple moving average of $36.76 and a 200-day simple moving average of $33.92. The company has a market capitalization of $3.07 billion, a P/E ratio of 3,370.37, a PEG ratio of 2.94 and a beta of 1.83. DigitalOcean has a fifty-two week low of $19.39 and a fifty-two week high of $51.69.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays raised their target price on shares of DigitalOcean from $37.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. Piper Sandler raised their price objective 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. JMP Securities reaffirmed a “market outperform” rating and issued a $47.00 target price on shares of DigitalOcean in a report on Thursday, March 21st. Finally, Oppenheimer boosted their price target on DigitalOcean from $37.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company 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).