DigitalOcean Holdings Inc reports results for the quarter ended in September - Earnings Summary

DigitalOcean Holdings

02/11/2023 21:41

* DigitalOcean Holdings Inc  DOCN.N  reported quarterly
adjusted
earnings of 44 cents​​ per share for the quarter ended in
September, higher than the same quarter last year, when the
company reported EPS of 38 cents.  The mean expectation of
thirteen analysts for the quarter was for earnings of 36 cents
per share. Wall Street expected results to range from 34 cents
to 47 cents per share.
    * Revenue rose 16.4% to $177.06 million from a year ago;
analysts
expected $173.36 million. 
    * DigitalOcean Holdings Inc's reported EPS for the quarter
was 20
cents​.
    * The company reported quarterly net income of $19.18
million.
    * DigitalOcean Holdings Inc shares had fallen by 17.5% this
quarter and lost 22.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 24.3%
in the last three months.​ 
    * In the last 30 days, five analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 7
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the it services &
consulting peer group is also "hold"

Wall Street's median 12-month price target for DigitalOcean
Holdings Inc is $30.00 
This summary was machine generated from LSEG data November 2 at
09:41 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.36           0.44           Beat
 Jun. 30 2023      0.41           0.44           Beat
 Mar. 31 2023      0.28           0.28           Met
 Dec. 31 2022      0.20           0.28           Beat