DigitalOcean Holdings, Inc. (NYSE:DOCN – Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $165.99 and last traded at $161.06, with a volume of 1970973 shares trading hands. The stock had previously closed at $158.46.
Analysts Set New Price Targets
A number of brokerages recently weighed in on DOCN. Piper Sandler lifted their price objective on shares of DigitalOcean from $98.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Oppenheimer set a $190.00 price objective on shares of DigitalOcean in a research note on Wednesday, May 6th. Cantor Fitzgerald lifted their price objective on shares of DigitalOcean from $68.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Bank of America lifted their price objective on shares of DigitalOcean from $103.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Finally, The Goldman Sachs Group boosted their price target on shares of DigitalOcean from $78.00 to $179.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, DigitalOcean presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.23.
Read Our Latest Report on DigitalOcean
DigitalOcean Trading Up 1.6%
DigitalOcean (NYSE:DOCN – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.17. The firm had revenue of $257.91 million for the quarter, compared to the consensus estimate of $249.76 million. DigitalOcean had a return on equity of 88.86% and a net margin of 24.97%.The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 EPS. 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 forecast that DigitalOcean Holdings, Inc. will post 0.55 earnings per share for the current fiscal year.
Insider Buying and Selling at DigitalOcean
In other DigitalOcean news, CFO Matt Steinfort sold 25,000 shares of DigitalOcean stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $152.50, for a total transaction of $3,812,500.00. Following the transaction, the chief financial officer owned 573,272 shares of the company’s stock, valued at $87,423,980. The trade was a 4.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Cherie Barrett sold 22,000 shares of DigitalOcean stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $54.77, for a total value of $1,204,940.00. Following the transaction, the chief accounting officer directly owned 62,469 shares in the company, valued at approximately $3,421,427.13. This trade represents a 26.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,338 shares of company stock valued at $6,803,816 in the last 90 days. 0.96% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On DigitalOcean
Several institutional investors and hedge funds have recently bought and sold shares of DOCN. Principal Financial Group Inc. grew its stake in DigitalOcean by 155.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,108,420 shares of the company’s stock valued at $95,080,000 after acquiring an additional 674,231 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in DigitalOcean during the 3rd quarter valued at about $21,808,000. Arrowstreet Capital Limited Partnership grew its stake in DigitalOcean by 90.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,194,845 shares of the company’s stock valued at $57,496,000 after acquiring an additional 568,823 shares in the last quarter. Vanguard Group Inc. grew its stake in DigitalOcean by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 9,362,889 shares of the company’s stock valued at $319,836,000 after acquiring an additional 442,617 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in DigitalOcean by 784.2% during the 4th quarter. Franklin Resources Inc. now owns 494,314 shares of the company’s stock valued at $23,786,000 after acquiring an additional 438,411 shares in the last quarter. 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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