Data Storage Stocks Q1 Teardown: DigitalOcean (NYSE:DOCN) Vs The Rest [Yahoo! Finance]
DigitalOcean Holdings, Inc. (DOCN)
Company Research
Source: Yahoo! Finance
Data is the lifeblood of the internet and software in general, and the amount of data created is accelerating. As a result, the importance of storing the data in scalable and efficient formats continues to rise, especially as its diversity and associated use cases expand from analyzing simple, structured datasets to high-scale processing of unstructured data such as images, audio, and video. The 4 data storage stocks we track reported a mixed Q1; on average, revenues beat analyst consensus estimates by 3.5%. while next quarter's revenue guidance was in line with consensus. Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has been a bumpier ride, as the market switches between optimism and pessimism around rate cuts due to mixed inflation data, and while some of the data storage stocks have fared somewhat better than others, they collectively declined, with share prices falling 3.5% on average since the
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News
- Multiplayer Announces the General Availability of its Collaborative Developer Platform Featuring System Observability [Yahoo! Finance]Yahoo! Finance
- When Should You Buy DigitalOcean Holdings, Inc. (NYSE:DOCN)? [Yahoo! Finance]Yahoo! Finance
- DigitalOcean Appoints Bratin Saha as Chief Product and Technology Officer [Yahoo! Finance]Yahoo! Finance
- DigitalOcean Appoints Bratin Saha as Chief Product and Technology OfficerBusiness Wire
- LinkDaddy Announces Partnership With DigitalOcean For Cloud Authority Backlinks [Yahoo! Finance]Yahoo! Finance
DOCN
Earnings
- 5/10/24 - Beat
DOCN
Sec Filings
- 6/17/24 - Form 3
- 6/17/24 - Form 8-K
- 6/14/24 - Form 4
- DOCN's page on the SEC website