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Boom Or Bust: What Does The Future Hold For DigitalOcean Holdings Inc. (NYSE: DOCN) Stock?

DigitalOcean Holdings Inc. (NYSE:DOCN)’s traded shares stood at 1.53 million during the last session. At the close of trading, the stock’s price was $35.05, to imply an increase of 0.81% or $0.28 in intraday trading. The DOCN share’s 52-week high remains $63.17, putting it -80.23% down since that peak but still an impressive 33.3% since price per share fell to its 52-week low of $23.38. The company has a valuation of $3.56B, with an average of 1.96 million shares in intraday trading volume over the past 10 days and average of 1.46 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for DigitalOcean Holdings Inc. (DOCN), translating to a mean rating of 2.40. Of 13 analyst(s) looking at the stock, 2 analyst(s) give DOCN a Sell rating. 1 of those analysts rate the stock as Overweight while 5 advise Hold as 5 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.2.

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DigitalOcean Holdings Inc. (NYSE:DOCN) trade information

After registering a 0.81% upside in the last session, DigitalOcean Holdings Inc. (DOCN) has traded red over the past five days. The stock hit a weekly high of 35.95 this Thursday, 03/16/23, jumping 0.81% in its intraday price action. The 5-day price performance for the stock is 1.45%, and 14.51% over 30 days. With these gigs, the year-to-date price performance is 37.61%. Short interest in DigitalOcean Holdings Inc. (NYSE:DOCN) saw shorts transact 8.57 million shares and set a 8.82 days time to cover.

Analysts on Wall Street suggest a consensus price target of $39.33, implying an increase of 10.88% to the stock’s current value. The extremes give us $30.00 and $63.00 for target low and target high price respectively. As such, DOCN has been trading -79.74% off suggested target high and 14.41% from its likely low.

DigitalOcean Holdings Inc. (DOCN) estimates and forecasts

Looking at statistics comparing DigitalOcean Holdings Inc. share performance against respective industry, we note that the company has outperformed competitors. DigitalOcean Holdings Inc. (DOCN) shares are -21.61% down over the last 6 months, with its year-to-date growth rate higher than industry average at 68.09% against 16.70%. Revenue is forecast to grow 100.00% this quarter before jumping 242.90% for the next one. The rating firms project that company’s revenue will grow 34.00% compared to the previous financial year.

Revenue forecast for the current quarter as set by 13 analysts is $161.09 million. Meanwhile, for the quarter ending Mar 2023, a total of 11 analyst(s) estimate revenue growth to $168.88 million.Earnings reports from the last fiscal year show that sales brought in $119.66 million and $127.33 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 34.60% before jumping 32.60% in the following quarter.

DOCN Dividends

DigitalOcean Holdings Inc. has its next earnings report out between May 02 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. DigitalOcean Holdings Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

DigitalOcean Holdings Inc. (NYSE:DOCN)’s Major holders

DigitalOcean Holdings Inc. insiders hold 29.26% of total outstanding shares, with institutional holders owning 55.91% of the shares at 79.03% float percentage. In total, 55.91% institutions holds shares in the company, led by IA Venture Partners, LLC. As of Dec 30, 2021, the company held over 7.4 million shares (or 7.69% of shares), all amounting to roughly $594.8 million.

The next major institution holding the largest number of shares is IA Venture Strategies Fund II, LP with 7.4 million shares, or about 7.69% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $267.82 million.

We also have First Tr Exchange Traded Fd II-First Tr Cloud Computing ETF and iShares Russell 2000 ETF as the top two Mutual Funds with the largest holdings of the DigitalOcean Holdings Inc. (DOCN) shares. Going by data provided on Dec 30, 2022, First Tr Exchange Traded Fd II-First Tr Cloud Computing ETF holds roughly 2.24 million shares. This is just over 2.33% of the total shares, with a market valuation of $57.04 million. Data from the same date shows that the other fund manager holds a little less at 1.59 million, or 1.65% of the shares, all valued at about 40.49 million.

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