DigitalOcean Holdings Inc. [NYSE: DOCN] slipped around -1.26 points on Tuesday, while shares priced at $28.14 at the close of the session, down -4.29%. The company report on November 7, 2022 that DigitalOcean Announces Third Quarter 2022 Financial Results.
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Revenue Increased 37% Year-over-Year.
Compared to the average trading volume of 1.39M shares, DOCN reached a trading volume of 5661171 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 $50.27 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 2.20. 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.
JP Morgan have made an estimate for DigitalOcean Holdings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 08, 2022. The new note on the price target was released on October 31, 2022, representing the official price target for DigitalOcean Holdings Inc. stock.
The Average True Range (ATR) for DigitalOcean Holdings Inc. is set at 2.55, with the Price to Sales ratio for DOCN stock in the period of the last 12 months amounting to 5.64. The Price to Book ratio for the last quarter was 59.87, with the Price to Cash per share for the same quarter was set at 11.82. Price to Free Cash Flow for DOCN in the course of the last twelve months was 19.75 with Quick ratio for the last quarter at 16.60.
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 -20.24. With this latest performance, DOCN shares dropped by -20.78% in over the last four-week period, additionally sinking by -13.94% over the last 6 months – not to mention a drop of -75.00% in the past year of trading.
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 26.95, with the RSI for the last a single of trading hit 19.47, and the three-weeks RSI is set at 32.15 for DigitalOcean Holdings Inc. [DOCN]. The present Moving Average for the last 50 days of trading for this stock 37.76, while it was recorded at 30.37 for the last single week of trading, and 45.29 for the last 200 days.
DigitalOcean Holdings Inc. [DOCN]: Deeper insight into the fundamentals
DigitalOcean Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 16.60 and a Current Ratio set at 16.60.
Insider trade positions for DigitalOcean Holdings Inc. [DOCN]
There are presently around $1,637 million, or 53.40% of DOCN stock, in the hands of institutional investors. The top three institutional holders of DOCN stocks are: IA VENTURE PARTNERS, LLC with ownership of 7,404,482, which is approximately New of the company’s market cap and around 4.60% of the total institutional ownership; IA VENTURE STRATEGIES FUND II, LP, holding 7,404,482 shares of the stock with an approximate value of $208.36 million in DOCN stocks shares; and BLACKROCK INC., currently with $143.07 million in DOCN stock with ownership of nearly 23.605% of the company’s market capitalization.
146 institutional holders increased their position in DigitalOcean Holdings Inc. [NYSE:DOCN] by around 16,789,537 shares. Additionally, 125 investors decreased positions by around 14,025,812 shares, while 57 investors held positions by with 27,346,844 shares. The mentioned changes placed institutional holdings at 58,162,193 shares, according to the latest SEC report filing. DOCN stock had 35 new institutional investments in for a total of 10,016,561 shares, while 55 institutional investors sold positions of 6,203,820 shares during the same period.