DigitalOcean Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

DigitalOcean Holdings, Inc. DOCN is set to release earnings results for its first quarter before the opening bell on May 10, 2024.

Analysts expect the New York-based company to report quarterly earnings at 38 cents per share, up from 28 cents per share in the year-ago period. DigitalOcean is projected to report quarterly revenue of $182.58 million, compared to $165.13 million a year ago, according to data from Benzinga Pro.

DigitalOcean replaced Agiliti Inc. AGTI in the S&P SmallCap 600 on Tuesday, May 7.

DigitalOcean shares fell 3.2% to close at $32.58 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• JMP Securities analyst Patrick Walravens reiterated a Market Outperform rating with a price target of $47 on March 21. This analyst has an accuracy rate of 62%.
• Piper Sandler analyst James Fish maintained a Neutral rating and boosted the price target from $35 to $38 on Feb. 22. This analyst has an accuracy rate of 67%.
• Oppenheimer analyst Timothy Horan maintained an Outperform rating and raised the price target from $37 to $46 on Feb. 22. This analyst has an accuracy rate of 69%.
• Barclays analyst Raimo Lenschow maintained an Overweight rating and boosted the price target from $37 to $43 on Jan. 12. This analyst has an accuracy rate of 73%.
• Canaccord Genuity analyst Kingsley Crane maintained a Buy rating and slashed the price target from $52 to $33 on Oct. 31. This analyst has an accuracy rate of 61%.

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