Stock of DigitalOcean Holdings Inc (DOCN) performance and profitability takes another direction

DigitalOcean Holdings Inc [DOCN] stock prices are down -0.61% to $37.31 at the moment. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The DOCN shares have gain 4.07% over the last week, with a monthly amount glided 7.21%, and seem to be holding up well over a long-time horizon.

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On 21, February 2024, DigitalOcean Announces Fourth Quarter and Fiscal Year 2023 Financial Results. In a post published today on Yahoo Finance, 2023 Revenue Increased 20% to $693 million.

From an analyst’s perspective:

DigitalOcean Holdings Inc [NYSE: DOCN] stock has seen the most recent analyst activity on November 21, 2023, when Oppenheimer upgraded its rating to a Outperform but kept the price target unchanged to $37 for it. Previously, Goldman upgraded its rating to Buy on November 07, 2023, and kept the price target unchanged to $33. On October 23, 2023, upgrade upgraded it’s rating to Neutral and revised its price target to $22 on the stock. BofA Securities downgraded its rating to a Underperform and decreased its price target to $25 on September 08, 2023. Morgan Stanley upgraded its rating to a Equal-Weight and reduced its price target to $103 on August 11, 2023. Piper Sandler downgraded its rating to Underweight for this stock on June 22, 2023, but kept the price target unchanged to $35. In a note dated April 25, 2023, Needham downgraded an Hold rating on this stock.

The stock price of DigitalOcean Holdings Inc [DOCN] has been fluctuating between $19.39 and $51.69 over the past year. Currently, Wall Street analysts expect the stock to reach $53.33 within the next 12 months. DigitalOcean Holdings Inc [NYSE: DOCN] shares were valued at $37.31 at the most recent close of the market. An investor can expect a potential return of 42.94% based on the average DOCN price forecast.

Analyzing the DOCN fundamentals

The DigitalOcean Holdings Inc [NYSE:DOCN] reported sales of 692.88M for trailing twelve months, representing a surge of 10.97%. Gross Profit Margin for this corporation currently stands at 0.59% with Operating Profit Margin at 0.06%, Pretax Profit Margin comes in at 0.04%, and Net Profit Margin reading is 0.01%. To continue investigating profitability, this company’s Return on Assets is posted at 0.0, Equity is -0.01 and Total Capital is 0.03. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -5.28.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 36.94 points at the first support level, and at 36.58 for the second support level. However, for the 1st resistance point, the stock is sitting at 37.58, and for the 2nd resistance point, it is at 37.86.

DigitalOcean Holdings Inc [DOCN] reported earnings per share of $0.44 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.37/share, meaning a difference of $0.07 and a surprise factor of 18.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.44 per share as compared to estimates of $0.36 per share, a difference of $0.08 representing a surprise of 22.20%.

Ratios To Look Out For

It’s worth pointing out that DigitalOcean Holdings Inc [NYSE:DOCN]’s Current Ratio is 2.61. As well, the Quick Ratio is 2.61, while the Cash Ratio is 1.65. Considering the valuation of this stock, the price to sales ratio is 4.89 and price to earnings (TTM) ratio is 28700.00.

Transactions by insiders

Recent insider trading involved Butte Amy, Director, that happened on Feb 26 when 3760.0 shares were sold. Chief Executive Officer, Spruill Yancey L. completed a deal on Nov 22 to sell 0.31 million shares. Meanwhile, Chief Executive Officer Spruill Yancey L. sold 0.15 million shares on Nov 21.

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