DigitalOcean Holdings’ 2022 Investor Day Key Highlights
<p>Oppenheimer provided its key takeaways from <a href='https://financialmodelingprep.com/financial-summary/DOCN'>DigitalOcean Holdings, Inc. (NYSE:DOCN)</a> 2022 Investor Day. According to the analysts, the company has a great strategy and execution, honing in on durable growth through the lifecycle management of its customers. </p>
<p>Management reiterated over 30% revenue growth with a $1 billion 2024 revenue target and an exceptional 20% free cash flow margin. These targets will be driven by improving NDRs from increased customer support and outreach, increasing ARPUs from new product offerings, and attracting, converting, and retaining new customers across different verticals.</p>
<p>According to the analysts, new product focus will be edge compute and AI, which will likely be inorganic. The analysts reiterated their outperform rating and $80 price target which implies attractive upside potential.</p>

NYSE:DOCN