In Thursday’s session, DigitalOcean Holdings Inc. (NYSE:DOCN) marked $38.79 per share, down from $41.00 in the previous session. While DigitalOcean Holdings Inc. has underperformed by -5.39%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DOCN fell by -54.41%, with highs and lows ranging from $133.40 to $30.05, whereas the simple moving average fell by -25.14% in the last 200 days.
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On July 13, 2022, Goldman Downgraded DigitalOcean Holdings Inc. (NYSE: DOCN) to Sell. A report published by Morgan Stanley on July 11, 2022, Downgraded its rating to ‘Underweight’ for DOCN. Goldman also rated DOCN shares as ‘Buy’, setting a target price of $49 on the company’s shares in an initiating report dated May 12, 2022. Piper Sandler Initiated an Overweight rating on April 04, 2022, and assigned a price target of $72. William Blair initiated its ‘Outperform’ rating for DOCN, as published in its report on November 12, 2021. Morgan Stanley’s report from August 06, 2021 suggests a price prediction of $60 for DOCN shares, giving the stock a ‘Equal-Weight’ rating. KeyBanc Capital Markets also rated the stock as ‘Overweight’.
Analysis of DigitalOcean Holdings Inc. (DOCN)
Further, the quarter-over-quarter increase in sales is 29.00%, showing a positive trend in the upcoming months.
DigitalOcean Holdings Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -7.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 16.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and DOCN has an average volume of 1.61M. On a monthly basis, the volatility of the stock is set at 5.40%, whereas on a weekly basis, it is put at 5.25%, with a loss of -12.12% over the past seven days. Furthermore, long-term investors anticipate a median target price of $55.27, showing growth from the present price of $38.79, which can serve as yet another indication of whether DOCN is worth investing in or should be passed over.
How Do You Analyze DigitalOcean Holdings Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 4.60%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 53.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in DOCN shares?
The recent increase in stakes in DOCN appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in DOCN has increased by 10.92% in the first quarter. The company now owns 4,907,934 shares of the stock, with a value of $206.57 million, following the purchase of 483,099 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in DOCN during the first quarter, upping its stake by 40.62%. During the last quarter, the company dropped down 1,002,299 additional shares for a total stake of worth $146.04 million, bringing number of shares owned by the company to 3,469,696.
During the first quarter, First Trust Advisors LP subtracted a -442,030 position in DOCN. AllianceBernstein LP sold an additional -0.25 million shares in the last quarter, decreasing its holdings by -10.25%, now holding 2.21 million shares worth $92.83 million. At the end of the first quarter, JPMorgan Investment Management, I decreased its DOCN holdings by -9.52% and now holds 1.67 million DOCN shares valued at $70.39 million with the lessened -0.18 million shares during the period. DOCN shares are owned by institutional investors to the tune of 53.80% at present.