DigitalOcean (NASDAQ:DOCN – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.60-$1.70 for the period, compared to the consensus estimate of $1.64. The company issued revenue guidance of $770-$775 million, compared to the consensus revenue estimate of $769.82 million. DigitalOcean also updated its FY 2024 guidance to 1.600-1.700 EPS.
DigitalOcean Stock Up 11.9 %
Shares of DigitalOcean stock opened at $32.57 on Friday. The company has a market cap of $2.97 billion, a PE ratio of 61.45, a P/E/G ratio of 3.01 and a beta of 1.81. The business has a 50 day moving average of $33.59 and a 200 day moving average of $35.63. DigitalOcean has a 52 week low of $19.39 and a 52 week high of $41.58.
DigitalOcean (NASDAQ:DOCN – Get Free Report) last issued its quarterly earnings results on Friday, May 10th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. The company had revenue of $184.73 million for the quarter, compared to analysts’ expectations of $182.70 million. DigitalOcean had a negative return on equity of 26.29% and a net margin of 7.01%. On average, research analysts anticipate that DigitalOcean will post 0.78 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on DOCN
Insider Transactions at DigitalOcean
In other news, Director Amy Butte sold 5,220 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $37.46, for a total value of $195,541.20. Following the transaction, the director now owns 36,417 shares of the company’s stock, valued at $1,364,180.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.74% of the company’s stock.
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).
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