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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 at $24.22 in the latest trading session, marking a +1.09% move from the prior day. This change outpaced the S&P 500's 0.23% loss on the day. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the company had lost 23.96% in the past month. In that same time, the Computer and Technology sector lost 1.69%, while the S&P 500 lost 1.43%.
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 $0.41 per share. This would mark year-over-year growth of 7.89%. Our most recent consensus estimate is calling for quarterly revenue of $173.51 million, up 14.06% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.63 per share and revenue of $684.55 million. These totals would mark changes of +73.4% and +18.78%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for DigitalOcean Holdings, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually 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.
Investors should also note DigitalOcean Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 14.72. For comparison, its industry has an average Forward P/E of 36.51, which means DigitalOcean Holdings, Inc. is trading at a discount to the group.
We can also see that DOCN currently has a PEG ratio of 0.52. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 1.56 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many 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 at $24.22 in the latest trading session, marking a +1.09% move from the prior day. This change outpaced the S&P 500's 0.23% loss on the day. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the company had lost 23.96% in the past month. In that same time, the Computer and Technology sector lost 1.69%, while the S&P 500 lost 1.43%.
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 $0.41 per share. This would mark year-over-year growth of 7.89%. Our most recent consensus estimate is calling for quarterly revenue of $173.51 million, up 14.06% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.63 per share and revenue of $684.55 million. These totals would mark changes of +73.4% and +18.78%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for DigitalOcean Holdings, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually 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.
Investors should also note DigitalOcean Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 14.72. For comparison, its industry has an average Forward P/E of 36.51, which means DigitalOcean Holdings, Inc. is trading at a discount to the group.
We can also see that DOCN currently has a PEG ratio of 0.52. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 1.56 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.