Stock on Demand This Week: DigitalOcean Holdings Inc. (DOCN)

DigitalOcean Holdings Inc. (NYSE:DOCN) saw an upside of 0.07% to close Monday at $83.90 after adding $0.06 on the day. The 5-day average trading volume is 1,559,020 shares of the company’s common stock. It has gained $87.72 in the past week. An average of 2,649,370 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,620,784.

DOCN’s 1-month performance is 19.81% or $13.87 on its low of $71.43 reached on 09/13/21. The company’s shares have touched a 52-week low of $35.35 and high of $88.48. YTD, DOCN has achieved 97.41%. However, the current price is down -5.18%% from the 52-week high price.

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Insider Transactions

On Oct 07, 5 days have gone by since the last insider trading activity for DigitalOcean Holdings Inc. (DOCN). Guy Jeffrey Scott (Chief Operating Officer) most recently sold 6,000 shares at $84.51 per share on Oct 07. This transaction cost the insider $507,060. General Counsel, SHAPIRO ALAN, sold 64,451 shares at a price of $86.84 on Sep 23. Then, on Sep 07, Chief People Officer Norman Harold Matthew sold 17,838 shares at a price of $72.09 per share. This transaction amounted to $1,285,941.

Valuation Metrics

DigitalOcean Holdings Inc. (DOCN) has a trailing price-to-earnings (P/E) ratio of 29.20 for the broader industry and 36.91 for the sector.DOCN stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 25.00 while the price-to-book (PB) in the most recent quarter is 10.44.

DigitalOcean Holdings Inc.’s quick ratio for the period ended June 29 was 11.40, with the current ratio over the same period at 11.40 meaning that DOCN stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.00, while the total debt to equity was 0.00. In terms of profitability, the gross margin trailing 12 months is 56.80%. while for the period ending June 29; DigitalOcean Holdings Inc.’s operating margin was -2.20%. The firm’s gross profit as reported stood at $172.85 million against revenue of $318.38 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected DOCN to announce $0.05 per share in earnings in its latest quarter, but it posted $0.08, representing a 60.00% surprise. EBITDA for the quarter stood at more than -$2.63 million. DOCN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 57.35 million. Shareholders hold equity totaling $107.34 million

Technical Picture

Let’s look briefly at DigitalOcean Holdings Inc. (DOCN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 60.68% to suggest the stock is trending Neutral, with historical volatility in this time period at 41.02%.

The stock’s 5-day moving average is $82.90, reflecting a +7.55% or $5.89 change from its current price. DOCN is currently trading +10.85% above its 20-day SMA, +114.85% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +62.91%.

Stochastic %K and %D was 69.85% and 63.69% and the average true range (ATR) pointed at 4.78. The RSI (14) points at 61.28%, while the 14-day stochastic is at 66.89% with the period’s ATR at 4.77. The stock’s 9-day MACD Oscillator is pointing at 3.30 and 2.55 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for DigitalOcean Holdings Inc. (NYSE: DOCN), Morgan Stanley reiterated its an Equal-weight rating for the company but lifted their price target by $50 to $60.


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