DigitalOcean Holdings, Inc. (DOCN) Stock Moves -0.13%: What You Should Know
In the latest trading session, DigitalOcean Holdings, Inc. (DOCN) closed at $70.73, marking a -0.13% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.41%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq gained 0.13%.
Prior to today's trading, shares of the company had lost 18.89% over the past month. This has lagged the Computer and Technology sector's loss of 1.8% and the S&P 500's gain of 2.36% in that time.
Wall Street will be looking for positivity from DigitalOcean Holdings, Inc. as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for DigitalOcean Holdings, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. DigitalOcean Holdings, Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, DigitalOcean Holdings, Inc. is holding a Forward P/E ratio of 126.09. For comparison, its industry has an average Forward P/E of 57.43, which means DigitalOcean Holdings, Inc. is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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DigitalOcean Holdings, Inc. (DOCN) : Free Stock Analysis Report
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