DigitalOcean price target raised to $95 from $66 at Barclays » 07:5709/1709/17/21
Barclays analyst Raimo…
Barclays analyst Raimo Lenschow raised the firm's price target on DigitalOcean to $95 from $66 and keeps an Overweight rating on the shares. Over the next few months, investors will move to 2023 their new base year for valuations, Lenschow tells investors in a research note. For software, "with its high growth rates, this move is important as valuation levels often see a meaningful step down," says the analyst.
|Over a week ago|
DigitalOcean acquires Nimbella, terms undisclosed » 08:0409/0709/07/21
DigitalOcean announced the acquisition of Nimbella, a serverless platform provider. Terms of the transaction were not disclosed and there is no change to DigitalOcean's 2021 financial outlook as a result of the acquisition. DigitalOcean plans to fully integrate the Nimbella serverless offering and launch the product under the DigitalOcean brand in the first half of 2022.
|Over a month ago|
DigitalOcean price target raised to $60 from $50 at Morgan Stanley » 07:3208/0608/06/21
Morgan Stanley analyst…
Morgan Stanley analyst Josh Baer raised the firm's price target on DigitalOcean to $60 from $50 and keeps an Equal Weight rating on the shares after Q2 results that he sees highlighting both strong execution and the momentum the company is seeing landing and serving customers. While he sees DigitalOcean's performance supporting expectations for durable 30%+ growth, Baer contends higher growth is already reflected in the share price at current levels.
DigitalOcean price target raised to $68 from $58 at JMP Securities » 06:1308/0608/06/21
JMP Securities analyst…
JMP Securities analyst Patrick Walravens raised the firm's price target on DigitalOcean to $68 from $58 and keeps an Outperform rating on the shares. The company reported very good results in its second quarter as a public company but the stock fell due to higher than expected guidance for capex as a percent of revenue, the analyst tells investors in a research note. Walravens still sees DigitalOcean as an excellent opportunity for long-term durable growth and capital appreciation.
DigitalOcean price target raised to $65 from $55 at Canaccord » 13:4908/0508/05/21
Canaccord analyst David…
Canaccord analyst David Hynes raised the firm's price target on DigitalOcean to $65 from $55 and keeps a Buy rating on the shares following the company's "strong" Q2 results that he said included a "notable acceleration across pretty much every key metric." He views it as likely that growth accelerates even further in the near-term, projecting that "DigitalOcean could be looking at 40% growth in Q3," before a normalization to what management suggests should be 30%+ growth through calendar 2022, Hynes tells investors.
DigitalOcean sees FY21 revenue $419M-$423M, consensus $407.74M » 07:4408/0508/05/21
Sees FY21 adjusted EBITDA…
Sees FY21 adjusted EBITDA margin 30%-31%.
DigitalOcean sees Q3 revenue $106M-$109M, consensus $104.12M » 07:4208/0508/05/21
Sees Q3 adjusted EBITDA…
Sees Q3 adjusted EBITDA margin 30%-31%.
DigitalOcean reports Q2 EPS (2c), consensus 5c » 07:4108/0508/05/21
Reports Q2 revenue…
Reports Q2 revenue $103.81M, consensus $98.29M. Reports total customers of approximately 602,000 at the end of the quarter, up 9% as compared to the second quarter 2020. Net dollar retention rate was 113%, an increase of 1,100 basis points from the second quarter 2020. Average revenue per customer in the quarter was $58.07, an increase of 25% over the second quarter 2020. "We had an outstanding second quarter with strong revenue growth acceleration and continued improvement in our capital efficiency," said Yancey Spruill, CEO of DigitalOcean. "We are excited about the progress we have made in leveraging simplicity across our business to better serve our customers and believe we have a path to a durable 30%+ growth rate for 2021 and next year. Adding to the strong quarter, we introduced Managed MongoDB which will continue to drive the revenue growth from our managed service offerings."
DigitalOcean up 4% after Citron compares to Shopify, sets $200 price target » 10:2008/0208/02/21
Shares of DigitalOcean…
Shares of DigitalOcean (DOCN) are up $1.90, or 4%, to $53.40 in early trading after Citron Research issued a long report on the stock in which it sets a $200 price target on the shares. In its report, Andrew Left's firm stated in part: "One of the greatest blunders we have made over the past 20 years of publishing Citron Research, is not realizing the power of Shopify when the stock was $100... Congratulations to everyone who owned Shopify through the years. Citron has been waiting patiently for another company to come along with the same profile, hoping with fingers crossed that valuation would be investible... and it has finally come to market... DigitalOcean (DOCN) is a cloud computing platform purpose-built for SMBs (i.e., the Shopify of cloud computing or AWS for SMBs) at a fraction of the cost of large cloud providers... We've seen this movie before and just like how Shopify and Square saw that SMBs were not far behind large enterprises in adopting ecommerce and digital payments, DigitalOcean is in the leading position to capitalize on this mega trend." Reference Link
Citron calls DigitalOcean 'the Shopify of Cloud Computing,' sets $200 target 10:1708/0208/02/21