Canaccord Genuity Believes DigitalOcean Holdings (DOCN) Won’t Stop Here
DigitalOcean Holdings (DOCN) received a Buy rating and a $55.00 price target from Canaccord Genuity analyst David Hynes today. The company’s shares closed last Friday at $44.87, close to its 52-week high of $46.35.
According to TipRanks.com, Hynes is a top 25 analyst with an average return of 34.8% and a 79.0% success rate. Hynes covers the Technology sector, focusing on stocks such as Qualtrics International, ZoomInfo Technologies, and BigCommerce Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for DigitalOcean Holdings with a $53.57 average price target, a 17.3% upside from current levels. In a report issued on April 14, Oppenheimer also initiated coverage with a Buy rating on the stock with a $55.00 price target.
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DigitalOcean Holdings Inc is one of the leading cloud computing platforms offeringon-demand infrastructure and platform tools for developers, start-ups and small and medium-sized businesses. The customers use the platform for a wide range of cases, such as web and mobile applications, website hosting, e-commerce, media and gaming, personal web projects, and managed services, among many others.