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DigitalOcean Holdings, Inc. (DOCN) Dips More Than Broader Markets: What You Should Know

DigitalOcean Holdings, Inc. (DOCN) closed the most recent trading day at $56.61, moving -1.34% from the previous trading session. This change lagged the S&P 500's 0.97% loss on the day. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq gained 0.23%.

Heading into today, shares of the company had lost 29.57% over the past month, lagging the Computer and Technology sector's loss of 4.93% and the S&P 500's loss of 0.78% in that time.

Investors will be hoping for strength from DigitalOcean Holdings, Inc. as it approaches its next earnings release.

Investors should also note any recent changes to analyst estimates for DigitalOcean Holdings, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. DigitalOcean Holdings, Inc. currently has a Zacks Rank of #3 (Hold).

Investors should also note DigitalOcean Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 102.16. This represents a premium compared to its industry's average Forward P/E of 47.03.

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow DOCN in the coming trading sessions, be sure to utilize Zacks.com.


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