In a report released today, Timothy Horan from Oppenheimer initiated coverage with a Buy rating on DigitalOcean Holdings (DOCN) and a price target of $55.00. The company’s shares closed last Wednesday at $43.46.
According to TipRanks.com, Horan is a 5-star analyst with an average return of 19.5% and a 69.0% success rate. Horan covers the Technology sector, focusing on stocks such as Rackspace Technology, Lumen Technologies, and Digital Turbine.
DigitalOcean Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $55.00.
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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.
