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Where Will DigitalOcean Stock Be in 1 Year?

TheMotleyFool

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Where Will DigitalOcean Stock Be in 1 Year?Photo, wide shot, wide-angle lens, Data analytics provider, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/d1295d04-cceb-4f1c-be2b-32ca46621336.png

DigitalOcean's (NYSE: DOCN) stock price surged 17% on Nov. 3 after the cloud infrastructure company posted its third-quarter report. Revenue rose 16% year over year to $177 million and exceeded analysts' estimates by $4 million. Adjusted earnings per share grew 22% to $0.44 and also cleared the consensus forecast by $0.22.

DigitalOcean's headline numbers seemed stable, but the stock has still declined more than 20% over the past 12 months and remains nearly 50% below its initial public offering (IPO) price. Let's see why DigitalOcean's stock slumped -- and where it might end up in a year.

Image source: Getty Images.

Source Fool.com

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