DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Receives $38.00 Average PT from Analysts

Shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCNGet Free Report) have earned a consensus rating of “Hold” from the eleven research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $38.00.

A number of brokerages have commented on DOCN. UBS Group started coverage on shares of DigitalOcean in a research note on Wednesday, May 22nd. They set a “neutral” rating and a $40.00 target price on the stock. Oppenheimer upped their price objective on DigitalOcean from $37.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Canaccord Genuity Group raised their price objective on DigitalOcean from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a research report on Monday, May 13th. Finally, Piper Sandler lifted their price target on shares of DigitalOcean from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd.

Read Our Latest Stock Analysis on DOCN

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC grew its stake in shares of DigitalOcean by 9.0% in the third quarter. Los Angeles Capital Management LLC now owns 19,375 shares of the company’s stock worth $466,000 after acquiring an additional 1,599 shares in the last quarter. Versor Investments LP acquired a new position in DigitalOcean during the 3rd quarter worth approximately $547,000. Van Berkom & Associates Inc. lifted its position in shares of DigitalOcean by 25.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,431,401 shares of the company’s stock worth $34,397,000 after purchasing an additional 288,500 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of DigitalOcean during the third quarter worth $211,000. Finally, Quantbot Technologies LP purchased a new position in DigitalOcean in the third quarter valued at $757,000. Institutional investors and hedge funds own 49.77% of the company’s stock.

DigitalOcean Stock Up 0.7 %

NASDAQ DOCN opened at $37.04 on Friday. The business’s fifty day simple moving average is $35.93 and its 200-day simple moving average is $35.53. The firm has a market cap of $3.37 billion, a PE ratio of 69.89, a P/E/G ratio of 3.57 and a beta of 1.83. DigitalOcean has a 52 week low of $19.39 and a 52 week high of $51.69.

DigitalOcean Company Profile

(Get Free Report

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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Analyst Recommendations for DigitalOcean (NASDAQ:DOCN)

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