Barclays analyst Raimo Lenschow maintained a Buy rating on DigitalOcean Holdings (DOCN – Research Report) today and set a price target of $43.00. The company’s shares closed last Friday at $35.11.
According to TipRanks, Lenschow is a 4-star analyst with an average return of 3.6% and a 50.10% success rate. Lenschow covers the Technology sector, focusing on stocks such as Microsoft, Teradata, and Paycom.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for DigitalOcean Holdings with a $38.56 average price target.
Based on DigitalOcean Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $177.06 million and a net profit of $19.18 million. In comparison, last year the company earned a revenue of $152.12 million and had a net profit of $7.9 million
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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.
Read More on DOCN:
- Can DigitalOcean (NASDAQ:DOCN) Keep Up Its High Growth?
- Digitalocean Holdings, Inc. Is Worried About This – Should You Be Worried Too?
- DigitalOcean price target raised to $38 from $35 at Piper Sandler
- DigitalOcean Announces $140M Share Buyback Initiative
- DigitalOcean sees Q1 adjusted EPS 37c-39c, consensus 37c
