From Financial Modeling Prep: 2024-10-04 19:48:00

Canaccord Genuity analysts raised DigitalOcean’s price target to $48 from $42 with a Buy rating. Shares closed up over 8% on Friday. Analysts are optimistic about the company’s potential to achieve 23% cloud market growth, driven by scaling core business and expanding AI offerings. Top-line estimates were also raised, with growth potential not fully reflected in current valuation.



Read more at Financial Modeling Prep:: Canaccord Genuity Raises DigitalOcean Price Target to $48, Stock Soars 8%