DigitalOcean (NYSE:DOCN) Price Target Raised to $160.00

DigitalOcean (NYSE:DOCN) had its price objective upped by UBS Group from $105.00 to $160.00 in a research report released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in on DOCN. Piper Sandler boosted their price target on DigitalOcean from $98.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday. Canaccord Genuity Group increased their price objective on DigitalOcean from $120.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group lifted their price objective on DigitalOcean from $50.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Citigroup restated an “outperform” rating on shares of DigitalOcean in a research note on Tuesday. Finally, Royal Bank Of Canada set a $60.00 price target on shares of DigitalOcean in a report on Tuesday, February 24th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, DigitalOcean currently has an average rating of “Moderate Buy” and an average price target of $141.08.

DigitalOcean Trading Up 9.5%

Shares of NYSE DOCN opened at $164.65 on Wednesday. The firm’s 50 day moving average price is $83.54 and its 200-day moving average price is $62.24. The company has a market cap of $17.18 billion, a PE ratio of 71.90 and a beta of 1.42. DigitalOcean has a 52-week low of $25.56 and a 52-week high of $164.77. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.69 and a current ratio of 1.46.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.17. The company had revenue of $257.91 million during the quarter, compared to the consensus estimate of $249.76 million. DigitalOcean had a net margin of 24.97% and a return on equity of 88.86%. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. On average, equities research analysts expect that DigitalOcean will post 0.45 EPS for the current fiscal year.

Insider Buying and Selling at DigitalOcean

In related news, CAO Cherie Barrett sold 22,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $54.77, for a total value of $1,204,940.00. Following the transaction, the chief accounting officer directly owned 62,469 shares of the company’s stock, valued at approximately $3,421,427.13. This trade represents a 26.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matt Steinfort sold 20,000 shares of DigitalOcean stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $55.40, for a total value of $1,108,000.00. Following the transaction, the chief financial officer owned 545,916 shares in the company, valued at $30,243,746.40. This trade represents a 3.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in shares of DigitalOcean by 66.2% during the 1st quarter. Parallel Advisors LLC now owns 324 shares of the company’s stock valued at $28,000 after acquiring an additional 129 shares during the period. Banque Cantonale Vaudoise bought a new stake in DigitalOcean during the 1st quarter worth approximately $33,000. Huntington National Bank lifted its holdings in DigitalOcean by 638.3% during the fourth quarter. Huntington National Bank now owns 598 shares of the company’s stock valued at $29,000 after purchasing an additional 517 shares in the last quarter. NBC Securities Inc. bought a new position in shares of DigitalOcean in the fourth quarter worth approximately $32,000. Finally, Allworth Financial LP increased its stake in shares of DigitalOcean by 54.4% in the third quarter. Allworth Financial LP now owns 724 shares of the company’s stock worth $25,000 after purchasing an additional 255 shares in the last quarter. 49.77% of the stock is owned by hedge funds and other institutional investors.

About DigitalOcean

DigitalOcean Holdings, Inc is a cloud infrastructure provider that focuses on simplicity, performance and developer experience. The company offers a range of cloud services designed to help software developers, startups and small- to medium-sized businesses deploy, manage and scale applications. Its flagship offering, Droplets, provides virtual private servers that can be configured with various CPU, memory and storage options. In addition to compute instances, DigitalOcean’s platform includes managed Kubernetes, scalable object and block storage, managed databases, load balancers and networking capabilities such as Virtual Private Cloud (VPC) and Floating IPs.

Founded in 2011 and headquartered in New York City, DigitalOcean was created with the goal of making cloud computing more accessible to individual developers and smaller teams.