Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN – Get Free Report) traded up 7.9% on Wednesday . The stock traded as high as $159.90 and last traded at $161.8010. 866,605 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 4,031,174 shares. The stock had previously closed at $150.02.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada set a $60.00 price objective on DigitalOcean in a report on Tuesday, February 24th. Oppenheimer set a $190.00 price objective on DigitalOcean in a report on Wednesday, May 6th. Citigroup increased their price objective on DigitalOcean from $115.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Barclays increased their price objective on DigitalOcean from $105.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Piper Sandler increased their price objective on DigitalOcean from $98.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $142.23.
View Our Latest Stock Analysis on DOCN
DigitalOcean Trading Up 6.7%
DigitalOcean (NYSE:DOCN – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.17. DigitalOcean had a return on equity of 88.86% and a net margin of 24.97%.The firm had revenue of $257.91 million during the quarter, compared to the consensus estimate of $249.76 million. During the same period last year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. On average, research analysts expect that DigitalOcean Holdings, Inc. will post 0.55 EPS for the current year.
Insiders Place Their Bets
In other DigitalOcean news, Director Hilary Schneider sold 4,338 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $156.38, for a total value of $678,376.44. Following the completion of the transaction, the director owned 24,323 shares in the company, valued at approximately $3,803,630.74. This represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Cherie Barrett sold 22,000 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $54.77, for a total value of $1,204,940.00. Following the completion of the transaction, the chief accounting officer owned 62,469 shares of the company’s stock, valued at $3,421,427.13. The trade was a 26.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 71,338 shares of company stock worth $6,803,816. 0.96% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Allworth Financial LP increased its position in shares of DigitalOcean by 54.4% in the third quarter. Allworth Financial LP now owns 724 shares of the company’s stock valued at $25,000 after buying an additional 255 shares in the last quarter. Parallel Advisors LLC increased its position in DigitalOcean by 66.2% during the 1st quarter. Parallel Advisors LLC now owns 324 shares of the company’s stock worth $28,000 after purchasing an additional 129 shares in the last quarter. Huntington National Bank boosted its stake in DigitalOcean by 638.3% in the 4th quarter. Huntington National Bank now owns 598 shares of the company’s stock worth $29,000 after buying an additional 517 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of DigitalOcean in the 4th quarter valued at about $32,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of DigitalOcean in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.
DigitalOcean Company Profile
DigitalOcean Holdings, Inc is a cloud infrastructure provider that focuses on simplicity, performance and developer experience. The company offers a range of cloud services designed to help software developers, startups and small- to medium-sized businesses deploy, manage and scale applications. Its flagship offering, Droplets, provides virtual private servers that can be configured with various CPU, memory and storage options. In addition to compute instances, DigitalOcean’s platform includes managed Kubernetes, scalable object and block storage, managed databases, load balancers and networking capabilities such as Virtual Private Cloud (VPC) and Floating IPs.
Founded in 2011 and headquartered in New York City, DigitalOcean was created with the goal of making cloud computing more accessible to individual developers and smaller teams.
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