DigitalOcean (NASDAQ:DOCN – Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.600-1.670 for the period, compared to the consensus EPS estimate of 1.630. The company issued revenue guidance of $760.0 million-$775.0 million, compared to the consensus revenue estimate of $766.4 million. DigitalOcean also updated its FY24 guidance to $1.60-$1.67 EPS.
Analysts Set New Price Targets
DOCN has been the topic of a number of recent research reports. Barclays boosted their target price on DigitalOcean from $37.00 to $43.00 and gave the company an overweight rating in a research note on Friday, January 12th. Oppenheimer raised their price objective on shares of DigitalOcean from $37.00 to $46.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Piper Sandler boosted their target price on shares of DigitalOcean from $35.00 to $38.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. Finally, JMP Securities restated a market outperform rating and set a $47.00 price target on shares of DigitalOcean in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $36.78.
View Our Latest Stock Analysis on DigitalOcean
DigitalOcean Price Performance
DigitalOcean (NASDAQ:DOCN – Get Free Report) last announced its earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.23. The firm had revenue of $180.87 million during the quarter, compared to the consensus estimate of $178.26 million. DigitalOcean had a negative return on equity of 19.85% and a net margin of 0.12%. Equities analysts expect that DigitalOcean will post 0.77 EPS for the current fiscal year.
DigitalOcean Company Profile
DigitalOcean Holdings, Inc, through its subsidiaries, operates a cloud computing platform in North America, Europe, Asia, and internationally. The company's platform provides on-demand infrastructure and platform tools for developers, start-ups, and small and growing digital businesses. It also offers infrastructure-as-a-service (IaaS) solutions comprising compute and storage services, as well as networking projects, including Cloud Firewalls software, Managed Load Balancers software, and Virtual Private Cloud (VPC).
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