DigitalOcean Holdings Inc. (NYSE:DOCN) price on Thursday, August 26, rose 1.76% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $56.80.
A look at the stock’s price movement, the close in the last trading session was $55.82, moving within a range at $56.00 and $58.65. Turning to its 52-week performance, $63.48 and $35.35 were the 52-week high and 52-week low respectively. Overall, DOCN moved 6.63% over the past month.
DigitalOcean Holdings Inc.’s market cap currently stands at around $5.89 billion, with investors looking forward to this quarter’s earnings report slated for May 06, 2021. Analysts project the company’s earnings per share (EPS) to be $0.05, which has seen fiscal year 2021 EPS growth forecast to increase to $0.27 and about $0.55 for fiscal year 2022.
Analysts have a consensus estimate of $103.81 million for the company’s revenue for the quarter, with a low and high estimate of $98 million and $98.57 million respectively.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s).
DOCN’s current price about 3.96% and 6.74% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 57.12, while 7-day volatility ratio is 4.60% and 6.83% in the 30-day chart. Further, DigitalOcean Holdings Inc. (DOCN) has a beta value of 0, and an average true range (ATR) of 3.27.
In the market, a comparison of DigitalOcean Holdings Inc. (DOCN) and its peers suggest the former has performed considerably stronger. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.58% and -0.54% respectively in the last trading.
If we refocus on DigitalOcean Holdings Inc. (NYSE:DOCN), historical trading data shows that trading volumes averaged 1.77 million over the past 10 days and 1.12 million over the past 3 months. The company’s latest data on shares outstanding shows there are 106.34 million shares.
The 5.50% of DigitalOcean Holdings Inc.’s shares are in the hands of company insiders while institutional holders own 44.70% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.51 million on Jul 29, 2021, giving us a short ratio of 6.48. The data shows that as of Jul 29, 2021 short interest in DigitalOcean Holdings Inc. (DOCN) stood at 3.27% of shares outstanding, with shares short rising to 1.81 million registered in Jun 29, 2021. Current price change has pushed the stock 33.65% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the DOCN stock continues to rise going into the next quarter.