Morgan Stanley Is Downgrading DigitalOcean, As Stock Falls Over 13%
While DigitalOcean Holdings Inc’s (NYSE: DOCN) share price already reflects benefits from pricing increases, it does not reflect the various risks and exposures for the second half of the year, according to Morgan Stanley.
Why U.S. Stocks Are Trading Lower; AZZ Earnings And More
U.S. stocks traded lower this morning as investors digested the recent jobs report for the month of June.
Looking Into DigitalOcean Holdings’s Return On Capital Employed
Benzinga Pro data, DigitalOcean Holdings (NYSE:DOCN) reported Q1 sales of $127.33 million. Earnings fell to a loss of $18.12 million, resulting in a 49.47% decrease from last quarter.
How Is The Market Feeling About DigitalOcean Holdings?
DigitalOcean Holdings's (NYSE:DOCN) short percent of float has risen 6.19% since its last report. The company recently reported that it has 5.04 million shares sold short, which is 11.67% of all regular shares that are available for trading.
Where DigitalOcean Holdings Stands With Analysts
Analysts have provided the following ratings for DigitalOcean Holdings (NYSE:DOCN) within the last quarter:
Goldman Sachs Initiates Coverage On DigitalOcean Holdings with Buy Rating, Announces Price Target of $49
Goldman Sachs analyst Gabriela Borges initiates coverage on DigitalOcean Holdings (NYSE:DOCN) with a Buy rating and announces Price Target of $49.
83 Biggest Movers From Yesterday
Gainers
Hudson Technologies, Inc. (NASDAQ: HDSN) shares jumped 26.9% to close at $9.06 on Thursday after the company reported better-than-expected Q1 EPS and sales results.
