|Bid||42.50 x 800|
|Ask||42.60 x 800|
|Day's range||42.46 - 44.40|
|52-week range||30.05 - 133.40|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Earnings date||04 Nov 2021|
|Forward dividend & yield||N/A (N/A)|
|1y target est||58.60|
Many of the growth stocks that saw massive price increases in 2020 and most of 2021 have been devastated by the bear market in 2022. It's the continued growth of companies like DigitalOcean (NYSE: DOCN) and DraftKings (NASDAQ: DKNG) that will get investors back and fuel further stock price growth. Let's find out a bit more about these two growth stocks and why 2022 offers a buying opportunity.
The cloud services industry is dominated by trillion-dollar giants like Amazon and Microsoft, but DigitalOcean (NYSE: DOCN) has found an edge by focusing on small to mid-sized business customers with under 500 employees. It's a segment of the market that larger players pay less attention to, but DigitalOcean is catering to their needs on price, service, and ease of use. DigitalOcean now serves 623,000 customers, and over the last 12 months, it has generated $462 million in revenue, a 36% jump year over year.
The Nasdaq Composite has tumbled deep into bear market territory, plunging 33% from its high. To that end, revenue climbed 36% to $462 million, and DigitalOcean generated positive free cash flow of $33 million, up from a loss of $35 million in the prior year.