|Bid||0.00 x 1400|
|Ask||0.00 x 1200|
|Day's range||1,499.00 - 1,559.75|
|52-week range||839.40 - 1,650.00|
|Beta (5Y monthly)||1.43|
|PE ratio (TTM)||119.06|
|Earnings date||27 Oct 2021 - 01 Nov 2021|
|Forward dividend & yield||N/A (N/A)|
|1y target est||1,515.09|
But shares promptly regained that lost ground on Monday after Square announced the purchase of Affirm peer Afterpay.
Shares of DigitalOcean Holdings (NYSE: DOCN), a cloud computing platform company, spiked today after the company received a bullish report from Citron Research. Citron's report makes some comparisons between DigitalOcean and Shopify and Square, saying the cloud computing company has similar opportunities with small and medium-sized businesses (SMBs) that the other two companies have had. "We've seen this movie before and just like how Shopify and Square saw that SMBs were not far behind large enterprises in adopting e-commerce and digital payments, DigitalOcean is in the leading position to capitalize on this mega trend," the Citron report said.
Market participants seem to be comfortable that the economy will be able to find ways to overcome any challenges from rising COVID-19 case counts. The S&P 500 (SNPINDEX: ^GSPC) gained 18 points to 4,414, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 93 points to 14,765. Below, we'll look at why Wall Street seems to think this competitor could be the next acquisition target.