Fintel reports that on June 22, 2023, Piper Sandler downgraded their outlook for DigitalOcean Holdings (NYSE:DOCN) from Neutral to Underweight.
Analyst Price Forecast Suggests 4.51% Upside
As of June 2, 2023, the average one-year price target for DigitalOcean Holdings is 40.80. The forecasts range from a low of 30.30 to a high of $66.15. The average price target represents an increase of 4.51% from its latest reported closing price of 39.04.
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The projected annual revenue for DigitalOcean Holdings is 756MM, an increase of 23.13%. The projected annual non-GAAP EPS is 1.18.
What is the Fund Sentiment?
There are 493 funds or institutions reporting positions in DigitalOcean Holdings. This is a decrease of 2 owner(s) or 0.40% in the last quarter. Average portfolio weight of all funds dedicated to DOCN is 0.38%, an increase of 149.99%. Total shares owned by institutions decreased in the last three months by 1.14% to 59,504K shares. The put/call ratio of DOCN is 0.26, indicating a bullish outlook.
What are Other Shareholders Doing?
IA Venture Strategies Fund II holds 7,404K shares representing 8.34% ownership of the company. No change in the last quarter.
Alliancebernstein holds 2,474K shares representing 2.79% ownership of the company. In it’s prior filing, the firm reported owning 2,738K shares, representing a decrease of 10.66%. The firm increased its portfolio allocation in DOCN by 11.98% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,947K shares representing 2.19% ownership of the company. In it’s prior filing, the firm reported owning 1,918K shares, representing an increase of 1.52%. The firm increased its portfolio allocation in DOCN by 44.19% over the last quarter.
First Trust Advisors holds 1,732K shares representing 1.95% ownership of the company. In it’s prior filing, the firm reported owning 2,461K shares, representing a decrease of 42.10%. The firm increased its portfolio allocation in DOCN by 4.99% over the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 1,650K shares representing 1.86% ownership of the company. In it’s prior filing, the firm reported owning 1,613K shares, representing an increase of 2.23%. The firm increased its portfolio allocation in DOCN by 50.97% over the last quarter.
DigitalOcean Holdings Background Information
(This description is provided by the company.)
DigitalOcean simplifies cloud computing so developers and businesses can spend more time building software that changes the world. With its mission-critical infrastructure and fully managed offerings, DigitalOcean helps developers, startups and small and medium-sized businesses (SMBs) rapidly build, deploy and scale applications to accelerate innovation and increase productivity and agility. DigitalOcean combines the power of simplicity, community, open source and customer support so customers can spend less time managing their infrastructure and more time building innovative applications that drive business growth.
Key filings for this company:
This article originally appeared on Fintel
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