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DigitalOcean Holdings, Inc. (DOCN) Gains But Lags Market: What You Should Know
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In the latest trading session, DigitalOcean Holdings, Inc. (DOCN - Free Report) closed at $41.10, marking a +0.07% move from the previous day. This move lagged the S&P 500's daily gain of 0.21%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.11%.
Heading into today, shares of the company had lost 34.16% over the past month, lagging the Computer and Technology sector's loss of 13.55% and the S&P 500's loss of 8.08% in that time.
Investors will be hoping for strength from DigitalOcean Holdings, Inc. as it approaches its next earnings release, which is expected to be May 4, 2022. Meanwhile, our latest consensus estimate is calling for revenue of $126.29 million, up 34.84% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.69 per share and revenue of $565.13 million, which would represent changes of +102.94% and +31.87%, respectively, from the prior year.
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.
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 has moved 183.33% lower 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 59.28. Its industry sports an average Forward P/E of 52.19, so we one might conclude that DigitalOcean Holdings, Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% 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.
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) Gains But Lags Market: What You Should Know
In the latest trading session, DigitalOcean Holdings, Inc. (DOCN - Free Report) closed at $41.10, marking a +0.07% move from the previous day. This move lagged the S&P 500's daily gain of 0.21%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.11%.
Heading into today, shares of the company had lost 34.16% over the past month, lagging the Computer and Technology sector's loss of 13.55% and the S&P 500's loss of 8.08% in that time.
Investors will be hoping for strength from DigitalOcean Holdings, Inc. as it approaches its next earnings release, which is expected to be May 4, 2022. Meanwhile, our latest consensus estimate is calling for revenue of $126.29 million, up 34.84% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.69 per share and revenue of $565.13 million, which would represent changes of +102.94% and +31.87%, respectively, from the prior year.
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.
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 has moved 183.33% lower 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 59.28. Its industry sports an average Forward P/E of 52.19, so we one might conclude that DigitalOcean Holdings, Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.