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DigitalOcean Holdings, Inc. (DOCN) Gains As Market Dips: What You Should Know
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DigitalOcean Holdings, Inc. (DOCN - Free Report) closed the most recent trading day at $58.94, moving +0.53% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the company had gained 12.58% over the past month. This has outpaced the Computer and Technology sector's gain of 1.92% and the S&P 500's gain of 2.67% in that time.
Investors will be hoping for strength from DigitalOcean Holdings, Inc. as it approaches its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $126.27 million, up 34.82% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.69 per share and revenue of $564.91 million. These totals would mark changes of +102.94% and +31.82%, respectively, from last year.
Any recent changes to analyst estimates for DigitalOcean Holdings, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 23.08% lower. DigitalOcean Holdings, Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, DigitalOcean Holdings, Inc. is holding a Forward P/E ratio of 84.77. This represents a premium compared to its industry's average Forward P/E of 49.21.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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DigitalOcean Holdings, Inc. (DOCN) Gains As Market Dips: What You Should Know
DigitalOcean Holdings, Inc. (DOCN - Free Report) closed the most recent trading day at $58.94, moving +0.53% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the company had gained 12.58% over the past month. This has outpaced the Computer and Technology sector's gain of 1.92% and the S&P 500's gain of 2.67% in that time.
Investors will be hoping for strength from DigitalOcean Holdings, Inc. as it approaches its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $126.27 million, up 34.82% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.69 per share and revenue of $564.91 million. These totals would mark changes of +102.94% and +31.82%, respectively, from last year.
Any recent changes to analyst estimates for DigitalOcean Holdings, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 23.08% lower. DigitalOcean Holdings, Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, DigitalOcean Holdings, Inc. is holding a Forward P/E ratio of 84.77. This represents a premium compared to its industry's average Forward P/E of 49.21.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.