DigitalOcean Holdings Inc (NYSE:DOCN) shares, rose in value, with the stock price up by 3.30% to the previous day’s close as strong demand from buyers drove the stock to $33.51.
Actively observing the price movement in the last trading, the stock closed the session at $32.44. The value of beta (5-year monthly) was 1.79 whereas the PE ratio was 25776.92 over 12-month period. Referring to stock’s 52-week performance, its high was $51.69, and the low was $19.39. On the whole, DOCN has fluctuated by -14.25% over the past month.
With the market capitalization of DigitalOcean Holdings Inc currently standing at about $3.04 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 10, 2024.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that DOCN’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 2241.47, with the price of DOCN currently trading nearly -4.71% and -10.31% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.89, while the 7-day volatility ratio is showing 3.40% which for the 30-day chart, stands at 3.23%. Furthermore, DigitalOcean Holdings Inc (DOCN)’s beta value is 1.84, and its average true range (ATR) is 1.33.
A comparison of DigitalOcean Holdings Inc (DOCN) with its peers suggests the former has fared considerably weaker in the market. DOCN showed an intraday change of 3.30% in last session, and over the past year, it grew by 4.82%%.
Data on historical trading for DigitalOcean Holdings Inc (NYSE:DOCN) indicates that the trading volumes over the past 3 months, they’ve averaged 1.04 million. According to company’s latest data on outstanding shares, there are 90.24 million shares outstanding.
Nearly 42.88% of DigitalOcean Holdings Inc’s shares belong to company insiders and institutional investors own 44.82% of the company’s shares. The stock has fallen by -8.67% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the DOCN stock heading into the next quarter.
