DOCN

Morgan Stanley Maintains DigitalOcean Holdings (DOCN) Equal-Weight Recommendation

Fintel reports that on October 13, 2023, Morgan Stanley maintained coverage of DigitalOcean Holdings (NYSE:DOCN) with a Equal-Weight recommendation.

Analyst Price Forecast Suggests 63.40% Upside

As of October 5, 2023, the average one-year price target for DigitalOcean Holdings is 37.48. The forecasts range from a low of 25.25 to a high of $54.60. The average price target represents an increase of 63.40% from its latest reported closing price of 22.94.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for DigitalOcean Holdings is 756MM, an increase of 16.32%. The projected annual non-GAAP EPS is 1.18.

What is the Fund Sentiment?

There are 513 funds or institutions reporting positions in DigitalOcean Holdings. This is an increase of 6 owner(s) or 1.18% in the last quarter. Average portfolio weight of all funds dedicated to DOCN is 0.38%, a decrease of 0.90%. Total shares owned by institutions decreased in the last three months by 4.96% to 57,110K shares. DOCN / DigitalOcean Holdings Inc Put/Call Ratios The put/call ratio of DOCN is 0.59, indicating a bullish outlook.

What are Other Shareholders Doing?

DOCN / DigitalOcean Holdings Inc Shares Held by Institutions

IA Venture Strategies Fund II holds 4,443K shares representing 5.00% ownership of the company. In it's prior filing, the firm reported owning 7,404K shares, representing a decrease of 66.67%. The firm decreased its portfolio allocation in DOCN by 0.20% over the last quarter.

Alliancebernstein holds 3,423K shares representing 3.85% ownership of the company. In it's prior filing, the firm reported owning 2,474K shares, representing an increase of 27.72%. The firm increased its portfolio allocation in DOCN by 35.13% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,840K shares representing 2.07% ownership of the company. In it's prior filing, the firm reported owning 1,947K shares, representing a decrease of 5.83%. The firm decreased its portfolio allocation in DOCN by 10.66% over the last quarter.

Invesco holds 1,559K shares representing 1.75% ownership of the company. In it's prior filing, the firm reported owning 88K shares, representing an increase of 94.36%. The firm increased its portfolio allocation in DOCN by 18,349.05% over the last quarter.

First Trust Advisors holds 1,525K shares representing 1.72% ownership of the company. In it's prior filing, the firm reported owning 1,732K shares, representing a decrease of 13.57%. The firm decreased its portfolio allocation in DOCN by 11.02% 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.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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