DigitalOcean (NYSE:DOCN) Posts Earnings Results, Beats Expectations By $0.12 EPS

DigitalOcean (NYSE:DOCN) issued its earnings results on Monday. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.40 by $0.12, Briefing.com reports. The business had revenue of $198.50 million during the quarter, compared to the consensus estimate of $196.64 million. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS.

DigitalOcean Stock Up 1.0 %

NYSE DOCN opened at $39.21 on Thursday. The stock’s 50 day moving average is $40.43 and its 200 day moving average is $36.70. The firm has a market capitalization of $3.61 billion, a PE ratio of 45.67, a P/E/G ratio of 2.80 and a beta of 1.83. DigitalOcean has a twelve month low of $24.07 and a twelve month high of $44.80.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays increased their price target on shares of DigitalOcean from $38.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research note on Tuesday. Stifel Nicolaus lifted their price target on DigitalOcean from $32.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on DigitalOcean from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, UBS Group decreased their price objective on DigitalOcean from $40.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.56.

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).