DigitalOcean Holdings Expects FY24 Revenue of $760M-$775M (Prior $755M-$775M) Vs $766.36M Est, Adj EPS of $1.60-$1.67 Vs $1.64 Est
Portfolio Pulse from Benzinga Newsdesk
DigitalOcean Holdings has updated its FY24 revenue forecast to $760M-$775M, slightly adjusting its previous range of $755M-$775M, aligning closely with the $766.36M estimate. The company also anticipates an adjusted EPS of $1.60-$1.67, compared to the estimated $1.64, alongside expectations of a 36%-38% adjusted EBITDA margin and a 19%-21% adjusted free cash flow margin.
May 10, 2024 | 11:07 am
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DigitalOcean Holdings has revised its FY24 revenue forecast to a range of $760M-$775M, from a prior $755M-$775M, closely matching the analyst estimate of $766.36M. The company also expects an adjusted EPS of $1.60-$1.67, in line with the $1.64 estimate. This update reflects a positive outlook on revenue and profitability, indicating strong financial health and operational efficiency.
The adjustment in DigitalOcean's FY24 revenue forecast to a range that closely matches analyst expectations suggests a positive outlook and confidence in the company's growth trajectory. The alignment of the adjusted EPS with estimates further supports this positive sentiment. Given the financial metrics provided, including a strong adjusted EBITDA margin and free cash flow margin, investors may view this update as a sign of robust financial health and operational efficiency, likely leading to a positive short-term impact on the stock price.
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