DigitalOcean Holdings (DOCN) Gets a Buy Rating from Oppenheimer
In a report released today, Timothy Horan from Oppenheimer assigned a Buy rating to DigitalOcean Holdings (DOCN), with a price target of $55.00. The company’s shares closed last Thursday at $43.42.
According to TipRanks.com, Horan is a 5-star analyst with an average return of 17.1% and a 67.4% success rate. Horan covers the Technology sector, focusing on stocks such as Rackspace Technology, Lumen Technologies, and Vonage Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for DigitalOcean Holdings with a $58.20 average price target.
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Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DOCN in relation to earlier this year.
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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.