DOCN Stock Recent News
DOCN LATEST HEADLINES
When You Look Back in 5 Years, You'll Wish You'd Bought This Tiny Artificial Intelligence (AI) Stock
The cloud is where the majority of artificial intelligence (AI) development is happening right now. Giants like Amazon, Microsoft, and Alphabet dominate the cloud computing industry.
DigitalOcean's growth has slowed as customers pull back on spending. But it should should accelerate as the company adds higher-value services and invests in artificial intelligence.
DigitalOcean Holdings, Inc. (NYSE:DOCN ) Q1 2024 Earnings Call Transcript May 10, 2024 8:00 AM ET Company Participants Rob Bradley - VP of IR Paddy Srinivasan - CEO Matt Steinfort - CFO Conference Call Participants Raimo Lenschow - Barclays Pinjalim Bora - JPMorgan Kingsley Crane - Canaccord Josh Baer - Morgan Stanley Tim Horan - Oppenheimer Mike Cikos - Needham James Fish - Piper Sandler Operator Thank you for standing by and welcome to the DigitalOcean First Quarter 2024 earnings conference call. All lines have been placed on mute to prevent any background noise.
Although the revenue and EPS for DigitalOcean (DOCN) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
For the full-year, the company expects revenue of $760 to $775 million, narrowing the lower end of the range from $755 million.
DigitalOcean's (DOCN) first-quarter 2024 performance is likely to reflect benefits from a robust product portfolio and strong demand for its cloud services.
As summer approaches, investors consider which stocks to sell before the seasonal slump. Historical trends show underperformance between May and October.
DigitalOcean (DOCN) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Amazon just reported results for its cloud segment, which were better than expected. Investors hope the same will be true for DigitalOcean.
Investors should consider the potential of an often overlooked cloud company. An e-commerce conglomerate may finally be ready to stage a comeback.