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DigitalOcean Holdings, Inc. (DOCN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, DigitalOcean Holdings, Inc. (DOCN - Free Report) closed at $43.24, marking a -1.64% move from the previous day. This change lagged the S&P 500's 0.07% loss on the day. At the same time, the Dow added 0.27%, and the tech-heavy Nasdaq gained 0.02%.
Heading into today, shares of the company had lost 10.01% over the past month, lagging the Computer and Technology sector's loss of 7.26% and the S&P 500's loss of 7.99% in that time.
Investors will be hoping for strength from DigitalOcean Holdings, Inc. as it approaches its next earnings release. In that report, analysts expect DigitalOcean Holdings, Inc. to post earnings of $0.10 per share. This would mark year-over-year growth of 42.86%. Our most recent consensus estimate is calling for quarterly revenue of $134.64 million, up 29.69% from the year-ago period.
DOCN's full-year Zacks Consensus Estimates are calling for earnings of $0.68 per share and revenue of $567.56 million. These results would represent year-over-year changes of +100% and +32.43%, respectively.
Investors might also notice recent changes to analyst estimates for DigitalOcean Holdings, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. DigitalOcean Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, DigitalOcean Holdings, Inc. is holding a Forward P/E ratio of 65.06. This valuation marks a premium compared to its industry's average Forward P/E of 42.41.
Investors should also note that DOCN has a PEG ratio of 1.11 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Internet - Software stocks are, on average, holding a PEG ratio of 2.42 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 144, which puts it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, DigitalOcean Holdings, Inc. (DOCN - Free Report) closed at $43.24, marking a -1.64% move from the previous day. This change lagged the S&P 500's 0.07% loss on the day. At the same time, the Dow added 0.27%, and the tech-heavy Nasdaq gained 0.02%.
Heading into today, shares of the company had lost 10.01% over the past month, lagging the Computer and Technology sector's loss of 7.26% and the S&P 500's loss of 7.99% in that time.
Investors will be hoping for strength from DigitalOcean Holdings, Inc. as it approaches its next earnings release. In that report, analysts expect DigitalOcean Holdings, Inc. to post earnings of $0.10 per share. This would mark year-over-year growth of 42.86%. Our most recent consensus estimate is calling for quarterly revenue of $134.64 million, up 29.69% from the year-ago period.
DOCN's full-year Zacks Consensus Estimates are calling for earnings of $0.68 per share and revenue of $567.56 million. These results would represent year-over-year changes of +100% and +32.43%, respectively.
Investors might also notice recent changes to analyst estimates for DigitalOcean Holdings, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. DigitalOcean Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, DigitalOcean Holdings, Inc. is holding a Forward P/E ratio of 65.06. This valuation marks a premium compared to its industry's average Forward P/E of 42.41.
Investors should also note that DOCN has a PEG ratio of 1.11 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Internet - Software stocks are, on average, holding a PEG ratio of 2.42 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 144, which puts it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.