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DigitalOcean Holdings, Inc. (DOCN) Stock Moves -0.03%: What You Should Know
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DigitalOcean Holdings, Inc. (DOCN - Free Report) closed the most recent trading day at $60.41, moving -0.03% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.23%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 0.34%.
Heading into today, shares of the company had gained 17.25% over the past month, outpacing the Computer and Technology sector's gain of 4.45% and the S&P 500's gain of 5.04% in that time.
DigitalOcean Holdings, Inc. will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $126.27 million, up 34.82% from the year-ago period.
DOCN's full-year Zacks Consensus Estimates are calling for earnings of $0.69 per share and revenue of $564.91 million. These results would represent year-over-year changes of +102.94% and +31.82%, respectively.
Investors should also note any recent changes to analyst estimates for DigitalOcean Holdings, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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. is currently a Zacks Rank #3 (Hold).
In terms of valuation, DigitalOcean Holdings, Inc. is currently trading at a Forward P/E ratio of 87.37. For comparison, its industry has an average Forward P/E of 49.93, which means DigitalOcean Holdings, Inc. is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 207, which puts it in the bottom 19% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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DigitalOcean Holdings, Inc. (DOCN) Stock Moves -0.03%: What You Should Know
DigitalOcean Holdings, Inc. (DOCN - Free Report) closed the most recent trading day at $60.41, moving -0.03% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.23%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 0.34%.
Heading into today, shares of the company had gained 17.25% over the past month, outpacing the Computer and Technology sector's gain of 4.45% and the S&P 500's gain of 5.04% in that time.
DigitalOcean Holdings, Inc. will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $126.27 million, up 34.82% from the year-ago period.
DOCN's full-year Zacks Consensus Estimates are calling for earnings of $0.69 per share and revenue of $564.91 million. These results would represent year-over-year changes of +102.94% and +31.82%, respectively.
Investors should also note any recent changes to analyst estimates for DigitalOcean Holdings, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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. is currently a Zacks Rank #3 (Hold).
In terms of valuation, DigitalOcean Holdings, Inc. is currently trading at a Forward P/E ratio of 87.37. For comparison, its industry has an average Forward P/E of 49.93, which means DigitalOcean Holdings, Inc. is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 207, which puts it in the bottom 19% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.