Why DigitalOcean Stock Is Skyrocketing This Week
The leader in simplified cloud computing platforms, DigitalOcean (NYSE: DOCN), saw its stock rocket 27% higher this week as of 11 a.m. ET Friday, according to data provided by S&P Global Market Intelligence.
DigitalOcean reported second-quarter earnings on Wednesday with sales and net income rising 14% and 95%, respectively. Now sporting a net income margin of 17%, DigitalOcean blew past analysts' expectations, and the stock rocketed higher.
Looking ahead to the full year, management raised sales expectations to 14% from 13% while lifting the midpoint of its earnings per share guidance 9% higher.
Source Fool.com
