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DigitalOcean Holdings, Inc. (DOCN) Gains As Market Dips: What You Should Know
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In the latest trading session, DigitalOcean Holdings, Inc. (DOCN - Free Report) closed at $24.03, marking a +0.92% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.27%. Meanwhile, the Dow lost 0.47%, and the Nasdaq, a tech-heavy index, added 0.14%.
Coming into today, shares of the company had lost 11.98% in the past month. In that same time, the Computer and Technology sector lost 2.58%, while the S&P 500 lost 2.86%.
DigitalOcean Holdings, Inc. will be looking to display strength as it nears 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $173.51 million, up 14.06% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.63 per share and revenue of $684.25 million, which would represent changes of +73.4% and +18.73%, respectively, from the prior year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 14.63. Its industry sports an average Forward P/E of 36.14, so we one might conclude that DigitalOcean Holdings, Inc. is trading at a discount comparatively.
Meanwhile, DOCN's PEG ratio is currently 0.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Software industry currently had an average PEG ratio of 1.51 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.
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
In the latest trading session, DigitalOcean Holdings, Inc. (DOCN - Free Report) closed at $24.03, marking a +0.92% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.27%. Meanwhile, the Dow lost 0.47%, and the Nasdaq, a tech-heavy index, added 0.14%.
Coming into today, shares of the company had lost 11.98% in the past month. In that same time, the Computer and Technology sector lost 2.58%, while the S&P 500 lost 2.86%.
DigitalOcean Holdings, Inc. will be looking to display strength as it nears 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $173.51 million, up 14.06% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.63 per share and revenue of $684.25 million, which would represent changes of +73.4% and +18.73%, respectively, from the prior year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 14.63. Its industry sports an average Forward P/E of 36.14, so we one might conclude that DigitalOcean Holdings, Inc. is trading at a discount comparatively.
Meanwhile, DOCN's PEG ratio is currently 0.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Software industry currently had an average PEG ratio of 1.51 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.