DigitalOcean gains after Q1 results beat
10/05/2024 12:30
** Shares of cloud computing platform DigitalOcean Holdings
DOCN.N gain 4.4% to $34 premarket
** Co's Q1 revenue of $185 mln beat estimates of $182.60 mln
- LSEG data
** Adj. EPS of 43 cents above estimated 38 cents
** Co forecasts Q2 revenue in range of $188 mln-$189 mln,
above analysts' average estimate of $187.1 mln
** Also sees Q2 adj. EPS between 38 cents and 40 cents,
compared with expectations of 39 cents
** Six brokerages maintain rating of "buy" or higher, five
maintain "hold" and one "sell"; median PT at $41 - LSEG data
** Stock has lost 11% so far this year, paring some gains
from the 44% rise in 2023
(Reporting by Purvi Agarwal in Bengaluru)
((Purvi.Agarwal@thomsonreuters.com))