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Saturday, December 9, 2023

Is DigitalOcean Holdings Inc (NYSE: DOCN) No Longer A Good Investment?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for DigitalOcean Holdings Inc (DOCN) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.58, or -2.03%, to $28.01. The DigitalOcean Holdings Inc has recorded 22,404 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that DigitalOcean Currents Report Finds That Adoption of AI/ML, and Investments in Cybersecurity and Multi-cloud Strategies Are On The Rise at Small Businesses.

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Stocks Info

DOCN belongs to the Technology sector of the NYSE while operating in the Software – Infrastructure industry. At the end of the last regular session, the stock closed at $28.59 and fluctuated between $28.99 as its day high and $28.29 as its day low. The current market capitalization of DigitalOcean Holdings Inc is $2.46B. A total of 1.6 million shares were traded on the day, compared to an average of 1.60M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, DOCN has seen 9 BUY and 5 SELL insider trades, representing the acquisition of 217,106 and the disposition of 46,385 shares. Over the last 12 months, there were 54 BUYs and 46 SELLs from insiders. Insiders purchased 1,372,520 shares during that period but sold 405,807.

In the most recent transaction, Spruill Yancey L. sold 546,499 shares of DOCN for 27.22 per share on Nov 15. After the transaction, the Chief Executive Officer now owns 4,198,656 company shares. In a previous transaction on Nov 14, Spruill Yancey L. sold 200,245 shares at 26.74 per share. DOCN shares that Chief Executive Officer owns now total 3,076,514.

Among the insiders who sold shares, Guy Jeffrey Scott disposed of 18,681 shares on Nov 10 at a per-share price of $24.77. This resulted in the Chief Operating Officer holding 99,359 shares of DOCN after the transaction. In another insider transaction, Wood Megan sold 20,000 shares at $25.79 per share on Nov 07. Company shares held by the Chief Stgy and Prdct Officer now total 236,988.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for DOCN in the last 3 months, the mean price target is $30.56 with high estimates of $47.00 and low estimates of $25.00. In terms of 52-week highs and lows, DOCN has a high of $51.69 and a low of $19.39.

As of this writing, DOCN has an earnings estimate of $0.37 per share for the current quarter. EPS was calculated based on a consensus of 12 estimates, with a high estimate of $0.38 per share and a lower estimate of $0.36. The company reported an EPS of $0.44 in the last quarter, which was 7.30% higher than expectations of $0.41.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for DOCN is Buy with a score of 3.69.

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