While DigitalOcean Holdings Inc has underperformed by -1.03%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DOCN rose by 27.96%, with highs and lows ranging from $44.80 to $26.63, whereas the simple moving average jumped by 6.59% in the last 200 days.
On May 22, 2024, UBS started tracking DigitalOcean Holdings Inc (NYSE: DOCN) recommending Neutral. A report published by Oppenheimer on November 21, 2023, Upgraded its rating to ‘Outperform’ for DOCN. Goldman also Upgraded DOCN shares as ‘Buy’, setting a target price of $33 on the company’s shares in a report dated November 07, 2023. Piper Sandler October 23, 2023d the rating to Neutral on October 23, 2023, and set its price target from $30 to $22. BofA Securities September 08, 2023d its ‘Buy’ rating to ‘Underperform’ for DOCN, as published in its report on September 08, 2023. Morgan Stanley’s report from August 11, 2023 suggests a price prediction of $103 for DOCN shares, giving the stock a ‘Equal-Weight’ rating. Piper Sandler also rated the stock as ‘Underweight’.
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Analysis of DigitalOcean Holdings Inc (DOCN)
Further, the quarter-over-quarter increase in sales is 12.10%, showing a positive trend in the upcoming months.
One of the most important indicators of DigitalOcean Holdings Inc’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. Taking into account the quick ratio of the company, currently set at 3.14, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and DOCN is recording 1.16M average volume. On a monthly basis, the volatility of the stock is set at 3.90%, whereas on a weekly basis, it is put at 3.06%, with a gain of 4.38% over the past seven days. Furthermore, long-term investors anticipate a median target price of $40.73, showing growth from the present price of $39.54, which can serve as yet another indication of whether DOCN is worth investing in or should be passed over.
How Do You Analyze DigitalOcean Holdings Inc Shares?
The Software – Infrastructure market is dominated by DigitalOcean Holdings Inc (DOCN) based in the USA. When comparing DigitalOcean Holdings Inc shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 46.57, there is a growth in quarterly earnings of 71.95%.
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 33.24%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 59.57% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
DOCN shares are owned by institutional investors to the tune of 59.57% at present.
