DigitalOcean Holdings Inc. [DOCN] is 21.15% higher this YTD. Is it still time to buy?

DigitalOcean Holdings Inc. [NYSE: DOCN] surged by $5.33 during the normal trading session on Tuesday and reaching a high of $53.6015 during the day while it closed the day at $51.49. The company report on May 27, 2021 that DigitalOcean to Host deploy Conference for Developers and Startups.

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Free event will educate developers and entrepreneurs on how to scale their businesses in the cloud.

DigitalOcean Holdings, Inc. (NYSE: DOCN), the cloud for developers, startups and small-to-medium sized businesses, announced that it will host deploy, a virtual conference for builders—developers, entrepreneurs and businesses—on June 29 starting at 9:00 a.m. EDT. The event, focused on the theme “Power Your Business,” will enable startups and small and medium-sized businesses (SMBs) to learn how to effectively build and scale their software applications in the cloud.

The market cap for DOCN stock reached $5.40 billion, with 106.34 million shares outstanding and 63.01 million shares in the current float. Compared to the average trading volume of 569.67K shares, DOCN reached a trading volume of 1343185 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about DigitalOcean Holdings Inc. [DOCN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DOCN shares is $58.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DOCN stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for DigitalOcean Holdings Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 19, 2021. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on April 19, 2021, representing the official price target for DigitalOcean Holdings Inc. stock. Previously, the target price had yet another raise to $56, while KeyBanc Capital Markets analysts kept a Overweight rating on DOCN stock.

The Average True Range (ATR) for DigitalOcean Holdings Inc. is set at 2.32, with the Price to Sales ratio for DOCN stock in the period of the last 12 months amounting to 15.93. The Price to Book ratio for the last quarter was 6.48, with the Price to Cash per share for the same quarter was set at 5.34.

DOCN stock trade performance evaluation

DigitalOcean Holdings Inc. [DOCN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.13.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DOCN stock in for the last two-week period is set at 75.31, with the RSI for the last a single of trading hit 82.30, and the three-weeks RSI is set at 69.56 for DigitalOcean Holdings Inc. [DOCN]. The present Moving Average for the last 50 days of trading for this stock 42.12, while it was recorded at 47.49 for the last single week of trading.

DigitalOcean Holdings Inc. [DOCN]: An insightful look at the core fundamentals

DigitalOcean Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.20 and a Current Ratio set at 13.20.

DigitalOcean Holdings Inc. [DOCN]: Insider Ownership positions

There are presently around $1,407 million, or 42.80% of DOCN stock, in the hands of institutional investors. The top three institutional holders of DOCN stocks are: AH EQUITY PARTNERS III, L.L.C. with ownership of 10,757,990, which is approximately New of the company’s market cap and around 2.70% of the total institutional ownership; AH EQUITY PARTNERS III (PARALLEL), L.L.C., holding 4,904,354 shares of the stock with an approximate value of $226.38 million in DOCN stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $79.19 million in DOCN stock with ownership of nearly New of the company’s market capitalization.

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72 institutional holders increased their position in DigitalOcean Holdings Inc. [NYSE:DOCN] by around 30,486,153 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 30,486,153 shares, according to the latest SEC report filing. DOCN stock had 72 new institutional investments in for a total of 30,486,153 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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