¿Es una buena compra DigitalOcean (DOCN) después de una venta impulsada por el mercado?

The recent volatility in DigitalOcean (DOCN) shares has sparked renewed debate about its long-term value proposition, particularly amid broader tech sector turbulence and shifting investor sentiment toward AI-driven growth. While the stock has faced downward pressure due to macroeconomic concerns-most notably fears of an "AI bubble"-its underlying fundamentals suggest a compelling case for cautious optimism. This analysis evaluates DOCN's positioning in the AI infrastructure market, its competitive advantages, and the broader tech sector recovery to determine whether the sell-off presents a buying opportunity.

Strong Fundamentals Amid Sector-Wide Headwinds

DigitalOcean's Q3 2025 results underscore its resilience in a challenging market. The company reported revenue of $230 million, a 16% year-over-year increase, with AI-related revenue more than doubling for the fifth consecutive quarter. This growth is driven by a surge in demand for AI-native infrastructure, particularly among small and medium-sized businesses (SMBs) and startups. Notably, DOCN secured multiple eight-figure, multiyear contracts and expanded its data center capacity to meet rising demand. These metrics highlight a business model that is not only adapting to AI trends but thriving within them.

However, the broader tech sector's sell-off in late Q3 2025 has cast a shadow over DOCN's prospects. Concerns about an AI-driven "bubble", fueled in part by Oracle's disappointing earnings and its plans for aggressive AI infrastructure spending, triggered a repricing of AI-related stocks. While this volatility has temporarily dented DOCN's valuation, analysts argue that the company's fundamentals remain robust. For instance, DOCN's forward price-to-sales ratio of 4.1x is significantly lower than sector averages, suggesting it may be undervalued relative to peers.

AI Infrastructure: A Niche With Long-Term Potential

DigitalOcean's strategic acquisition of Paperspace in 2023 has been pivotal in solidifying its position in the AI infrastructure market. The integration of Paperspace's GPU-powered cloud capabilities has enabled DOCN to offer a streamlined, cost-effective solution for AI/ML workloads-a critical differentiator in a market dominated by AWS, Azure, and Google Cloud. According to internal data, DOCN's AI-focused revenue grew by 35% year-over-year in 2025, reflecting strong adoption of its agentic cloud platform.

While AWS and Google Cloud maintain dominance in enterprise-scale AI infrastructure, DOCN's focus on simplicity and affordability has carved out a niche for SMBs and startups. As noted by industry analysts, AWS and Azure are often perceived as overly complex and expensive for smaller businesses, creating an opening for DOCN's developer-friendly approach. This positioning aligns with the broader trend of AI democratization, where startups and mid-sized firms seek accessible tools to experiment with and deploy AI applications.

Tech Sector Recovery and the AI Narrative

The broader tech sector's trajectory in Q4 2025 offers further context for DOCN's outlook. Despite the late-Q3 sell-off, the sector is expected to remain a key driver of earnings growth in 2026, with the "Magnificent 7" (Mag 7) companies projected to outperform the market. Earnings growth for the Tech sector as a whole is forecasted to rise by 13% in Q4 2025, with AI-related investments growing by 14% year-over-year in Q2 2025. These trends suggest that the AI narrative remains intact, even if short-term volatility persists.

Wall Street strategists have echoed this sentiment, arguing that the recent sell-off is more about profit-taking and valuation corrections than a fundamental shift in AI's trajectory. For DOCN, this implies that the market's repricing of AI stocks may be temporary, with long-term growth drivers-such as enterprise adoption of agentic cloud platforms and the expansion of AI-native businesses-remaining intact.

Risks and Competitive Challenges

Despite its strengths, DOCN faces significant challenges. Its infrastructure operates in 13 active data centers globally, lagging behind AWS and Azure's extensive networks, which could limit its appeal for latency-sensitive global deployments. Additionally, while DOCN's ecosystem has grown post-Paperspace, it still lacks the breadth of services offered by cloud titans, particularly in advanced machine learning and enterprise-grade AI tools. Discounted cash flow (DCF) models suggest DOCN may be overvalued in the short term, though its forward P/S ratio indicates it is fairly priced relative to sector averages. Investors must weigh these metrics against the company's guidance for 2025 and 2026, which projects continued revenue and adjusted free cash flow growth driven by AI and enterprise adoption.

Conclusion: A Buy for the Long-Term?

DigitalOcean's Q3 performance and strategic investments in AI infrastructure position it as a beneficiary of the sector's long-term growth. Its focus on affordability and simplicity for SMBs creates a defensible niche in a market dominated by larger players. While the recent sell-off reflects broader macroeconomic anxieties, the company's strong fundamentals and guidance suggest that the dip may present a buying opportunity for investors with a long-term horizon.

However, caution is warranted. The AI bubble narrative and competitive pressures from AWS and Google Cloud remain risks. For those comfortable with these uncertainties, DOCN's forward P/S ratio and growth trajectory make it a compelling candidate in the AI infrastructure space. As the tech sector stabilizes in 2026, DOCN's ability to capitalize on AI democratization could prove pivotal in unlocking its long-term value.