Needham Keeps Their Hold Rating on DigitalOcean Holdings (DOCN)

In a report released today, Mike Cikos from Needham maintained a Hold rating on DigitalOcean Holdings (DOCN – Research Report). The company’s shares opened today at $33.81.

According to TipRanks, Cikos is a 5-star analyst with an average return of 13.0% and a 53.65% success rate. Cikos covers the Technology sector, focusing on stocks such as MongoDB, Tenable Holdings, and ServiceNow.

DigitalOcean Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $38.56.

DOCN market cap is currently $2.97B and has a P/E ratio of 25,061.54.

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DigitalOcean Holdings (DOCN) Company Description:

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.