DigitalOcean Holdings Inc. [DOCN] is 112.87% higher this YTD. Is it still time to buy?


DigitalOcean Holdings Inc. [NYSE: DOCN] traded at a high on 12/02/21, posting a 3.44 gain after which it closed the day’ session at $90.47. The company report on November 16, 2021 that DigitalOcean Report Uncovers Barriers SMBs Face in Cloud Adoption, Showing Need for Less Technical Solutions.

While 52% of traditional SMBs believe the cloud is critical to their business success, 43% have zero full-time technical staff to manage cloud solutions.

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DigitalOcean Holdings, Inc. (NYSE: DOCN), the cloud for developers, startups and small-to-medium sized businesses, at deploy announced the findings of its latest Currents report.

The results of the trading session contributed to over 7214368 shares changing hands. Over the past one week, the price volatility of DigitalOcean Holdings Inc. stands at 10.83% while the volatility over the past one month is 8.95%.

The market cap for DOCN stock reached $9.84 billion, with 106.77 million shares outstanding and 62.56 million shares in the current float. Compared to the average trading volume of 2.46M shares, DOCN reached a trading volume of 7214368 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $116.44 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.

William Blair have made an estimate for DigitalOcean Holdings Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 12, 2021. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $50 to $60. The new note on the price target was released on August 06, 2021, representing the official price target for DigitalOcean Holdings Inc. stock. Previously, the target price had yet another raise from $57 to $67, while KeyBanc Capital Markets kept a Overweight rating on DOCN stock. On August 06, 2021, analysts increased their price target for DOCN shares from 55 to 65.

The Average True Range (ATR) for DigitalOcean Holdings Inc. is set at 9.12, with the Price to Sales ratio for DOCN stock in the period of the last 12 months amounting to 24.81. The Price to Book ratio for the last quarter was 11.25, with the Price to Cash per share for the same quarter was set at 5.31.

How has DOCN stock performed recently?

DigitalOcean Holdings Inc. [DOCN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.89. With this latest performance, DOCN shares dropped by -1.89% in over the last four-week period, additionally plugging by 125.78% over the last 6 months.

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 40.78, with the RSI for the last a single of trading hit 35.29, and the three-weeks RSI is set at 44.75 for DigitalOcean Holdings Inc. [DOCN]. The present Moving Average for the last 50 days of trading for this stock 96.91, while it was recorded at 96.68 for the last single week of trading.

DigitalOcean Holdings Inc. [DOCN]: Deeper insight into the fundamentals

DigitalOcean Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.40 and a Current Ratio set at 11.40.

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Insider trade positions for DigitalOcean Holdings Inc. [DOCN]

There are presently around $4,487 million, or 61.00% 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 8,068,492, which is approximately -25% of the company’s market cap and around 3.50% of the total institutional ownership; FIRST TRUST ADVISORS LP, holding 4,275,954 shares of the stock with an approximate value of $373.98 million in DOCN stocks shares; and AH EQUITY PARTNERS III (PARALLEL), L.L.C., currently with $321.7 million in DOCN stock with ownership of nearly -25% of the company’s market capitalization.

173 institutional holders increased their position in DigitalOcean Holdings Inc. [NYSE:DOCN] by around 25,568,025 shares. Additionally, 30 investors decreased positions by around 7,112,628 shares, while 5 investors held positions by with 18,618,264 shares. The mentioned changes placed institutional holdings at 51,298,917 shares, according to the latest SEC report filing. DOCN stock had 117 new institutional investments in for a total of 17,505,997 shares, while 14 institutional investors sold positions of 1,250,241 shares during the same period.