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In a recent SEC filing, DigitalOcean Holdings , Inc. (NYSE:DOCN) reported that Saha Bratin, the company’s Chief Product & Tech Officer, executed a sale of common stock. On March 18, Bratin sold 3,948 shares at an average price of $36.63, amounting to a total transaction value of $144,615. This sale was conducted under a Rule 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at a predetermined time.
Additionally, on March 17, Bratin disposed of 3,085 shares at $36.16 per share, totaling $111,553. This transaction was related to the withholding of shares by the company to cover tax obligations from the vesting of restricted stock units.
Following these transactions, Bratin holds 358,696 shares of DigitalOcean common stock.
In other recent news, DigitalOcean Holdings Inc. reported its fourth-quarter earnings for 2024, surpassing market expectations with an earnings per share (EPS) of $0.49, beating the forecast of $0.38. The company also reported revenue of $255 million, exceeding the anticipated $200.16 million, marking a 13% year-over-year increase. DigitalOcean’s full-year revenue for 2024 also rose by 13%, reaching $781 million. Looking forward, the company projects 2025 revenue to be between $870 million and $890 million.
Additionally, JMP Securities analyst Patrick Walravens reaffirmed a Market Outperform rating for DigitalOcean with a price target of $55. This endorsement is based on the company’s accelerated product development and strategic focus on AI, including a partnership with Hugging Face. DigitalOcean has introduced a platform for creating AI agents, aiming to expand its offerings’ accessibility to Hugging Face’s user base.
The company’s commitment to product innovation is evident, with the launch of 49 new features and products in the last quarter. DigitalOcean’s guidance for 2025 suggests continued growth, with expectations for adjusted EBITDA margins of 37-40% and non-GAAP EPS of $1.85-$1.95. The firm’s strategic initiatives and robust performance highlight its potential for sustained growth in the cloud computing sector.
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