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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 at $38.17 in the latest trading session, marking a -0.03% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.6%, and the tech-heavy Nasdaq gained 0.11%.
The company's shares have seen a decrease of 0.57% over the last month, not keeping up with the Computer and Technology sector's gain of 2.99% and the S&P 500's gain of 3.32%.
Analysts and investors alike will be keeping a close eye on the performance of DigitalOcean Holdings, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.38, signifying a 35.71% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $182.7 million, up 10.64% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.63 per share and revenue of $765.9 million. These totals would mark changes of +2.52% and +10.54%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for DigitalOcean Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. DigitalOcean Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, DigitalOcean Holdings, Inc. is presently trading at a Forward P/E ratio of 23.36. This signifies a discount in comparison to the average Forward P/E of 30.03 for its industry.
Also, we should mention that DOCN has a PEG ratio of 1.54. 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. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 1.92.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 39, positioning it in the top 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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 at $38.17 in the latest trading session, marking a -0.03% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.6%, and the tech-heavy Nasdaq gained 0.11%.
The company's shares have seen a decrease of 0.57% over the last month, not keeping up with the Computer and Technology sector's gain of 2.99% and the S&P 500's gain of 3.32%.
Analysts and investors alike will be keeping a close eye on the performance of DigitalOcean Holdings, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.38, signifying a 35.71% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $182.7 million, up 10.64% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.63 per share and revenue of $765.9 million. These totals would mark changes of +2.52% and +10.54%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for DigitalOcean Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. DigitalOcean Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, DigitalOcean Holdings, Inc. is presently trading at a Forward P/E ratio of 23.36. This signifies a discount in comparison to the average Forward P/E of 30.03 for its industry.
Also, we should mention that DOCN has a PEG ratio of 1.54. 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. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 1.92.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 39, positioning it in the top 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.