Oppenheimer Lifts DigitalOcean Holdings PT to $100 From $70. Stock Closed 5.85% Lower
<p>Analysts at Oppenheimer increased their price target on <a href='https://financialmodelingprep.com/financial-summary/DOCN'>DigitalOcean Holdings, Inc. (NYSE:DOCN) </a>to $100 from $70 on accelerating key metrics, mentioning the following main points:</p>
<p>(1) Accelerating metrics such as retention and ARPU,</p>
<p>(2) valuation and capex spending trends versus competitors,</p>
<p>(3) short-term catalyst of the lock-up expiration,</p>
<p>(4) competitive moat around the SMB- focused niche that DOCN has carved out, </p>
<p>(5) ability for the company to balance growth and profitability over the long-term. </p>
<p>The brokerage increased its FY22/FY23 revenue/EBITDA estimates and believes these are conservative and revenue growth could accelerate to over 40% within 2–3 years.</p>


NYSE:DOCN