Why DigitalOcean Stock Jumped Today [Yahoo! Finance]
DigitalOcean Holdings, Inc. (DOCN)
Company Research
Source: Yahoo! Finance
Amazon . Moreover, the company is getting some recognition by being added to a prominent stock index. As of 12:10 p.m. ET, DigitalOcean stock was up 8%. Companies are spending on cloud computing again DigitalOcean stock has essentially traded sideways over the past year because its growth is slowing considerably -- management only guided for about 10% year-over-year revenue growth in 2024. However, investors use Amazon's AWS cloud-computing platform as a barometer for how this space is doing. And investors like what they see today. AWS just reported 25% year-over-year revenue growth in the first quarter of 2024 -- a hearty increase from its 13% growth in 2023. CEO Andy Jassy said growth was boosted by "companies renewing their infrastructure modernization efforts and the appeal of AWS's AI capabilities." Jassy's comments might apply to the entire cloud-computing space and not just AWS. Therefore, DigitalOcean's financial results might look better than expected when it reports
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News
- Is DigitalOcean Stock a Buy? [Yahoo! Finance]Yahoo! Finance
- DigitalOcean Holdings, Inc. (NASDAQ: DOCN) had its price target raised by analysts at Canaccord Genuity Group Inc. from $41.00 to $42.00. They now have a "buy" rating on the stock.MarketBeat
- DigitalOcean Holdings, Inc. (NASDAQ: DOCN) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $47.00 price target on the stock.MarketBeat
- DigitalOcean Holdings, Inc. (NASDAQ: DOCN) had its "hold" rating re-affirmed by analysts at Needham & Company LLC.MarketBeat
- DigitalOcean Holdings, Inc. (NYSE:DOCN) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
DOCN
Earnings
- 5/10/24 - Beat
DOCN
Sec Filings
- 5/14/24 - Form 4
- 5/10/24 - Form 10-Q
- 5/10/24 - Form 8-K
- DOCN's page on the SEC website