DigitalOcean Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
DigitalOcean Holdings, Inc. (DOCN) is anticipated to report an increase in Q1 earnings with a forecast of 38 cents per share, up from 28 cents the previous year, and revenue of $182.58 million, up from $165.13 million. The company recently joined the S&P SmallCap 600, replacing Agiliti Inc. (AGTI). Despite this, DOCN shares dropped 3.2% recently. Analysts from JMP Securities, Piper Sandler, Oppenheimer, Barclays, and Canaccord Genuity have provided various ratings and price targets for DOCN.
May 10, 2024 | 7:10 am
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POSITIVE IMPACT
DigitalOcean is expected to report increased Q1 earnings and revenue, with positive analyst ratings and a recent addition to the S&P SmallCap 600. However, shares recently fell by 3.2%.
The anticipated increase in earnings and revenue, combined with positive analyst ratings, suggests a positive outlook for DOCN. However, the recent share price drop may reflect short-term market reactions or adjustments. The overall positive analyst sentiment and growth indicators could support a rebound or continued growth in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Agiliti Inc. was replaced by DigitalOcean in the S&P SmallCap 600, which may impact investor perception and the stock's visibility.
Being replaced in the S&P SmallCap 600 by DigitalOcean could lead to negative investor sentiment towards AGTI in the short term, as it may reduce the stock's visibility and attractiveness to investors seeking exposure to small-cap companies.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50