In the last trading session, 1.6 million DigitalOcean Holdings Inc (NYSE:DOCN) shares changed hands as the company’s beta touched 1.68. With the company’s per share price at $28.59 changed hands at -$0.31 or -1.07% during last session, the market valuation stood at $2.46B. DOCN’s last price was a discount, traded about -80.8% off its 52-week high of $51.69. The share price had its 52-week low at $19.39, which suggests the last value was 32.18% up since then. When we look at DigitalOcean Holdings Inc’s average trading volume, we note the 10-day average is 1.73 million shares, with the 3-month average coming to 1.60 million.
Analysts gave the DigitalOcean Holdings Inc (DOCN) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.38. If we narrow down to specifics, the data shows that 0 out of 13 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 7 recommended DOCN as a Hold, 4 felt it is a Buy and 1 rated the stock as Underweight. DigitalOcean Holdings Inc’s EPS for the current quarter is expected to be $0.37.
DigitalOcean Holdings Inc (NYSE:DOCN) trade information
Instantly DOCN was in red as seen at the end of in last trading. With action 11.77%, the performance over the past five days has been green. The drop to weekly highs of 28.99 on Monday, 11/20/23 subtracted -1.07% to the stock’s daily price. The company’s shares are showing year-to-date upside of 12.25%, with the 5-day performance at 11.77% in the green. However, in the 30-day time frame, DigitalOcean Holdings Inc (NYSE:DOCN) is 32.85% up. Looking at the short shares, we see there were 6.79 million shares sold at short interest cover period of 6.32 days.
The consensus price target for the stock as assigned by Wall Street analysts is $30.56, meaning bulls need an upside of 6.45% from its current market value. According to analyst projections, DOCN’s forecast low is $25.00 with $47.00 as the target high. To hit the forecast high, the stock’s price needs a -64.39% plunge from its current level, while the stock would need to tank 12.56% for it to hit the projected low.
DigitalOcean Holdings Inc (DOCN) estimates and forecasts
Data shows that the DigitalOcean Holdings Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -18.24% over the past 6 months, a 52.13% in annual growth rate that is considerably higher than the industry average of 18.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for DigitalOcean Holdings Inc will rise 32.10%, while the growth in revenue is estimated to hit 32.10% for the next quarter. Year-over-year growth is forecast to reach 19.70% up from the last financial year.
Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $178.12 million. 8 analysts are of the opinion that DigitalOcean Holdings Inc’s revenue for the quarter ending Mar 2024 will be $181.12 million. The company’s revenue for the corresponding quarters a year ago was $163 million and $165.13 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 9.30%. The estimates for the next quarter sales put growth at 9.70%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 8.38%. The 2023 estimates are for DigitalOcean Holdings Inc earnings to increase by 60.18%, but the outlook for the next 5-year period is at 38.30% per year.
DigitalOcean Holdings Inc is expected to release its next quarterly earnings report between February 14 and February 19.