JMP Securities analyst Patrick Walravens maintains $DigitalOcean (DOCN.US)$ with a buy rating, and maintains the target price at $47.
According to TipRanks data, the analyst has a success rate of 47.3% and a total average return of 1.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $DigitalOcean (DOCN.US)$'s main analysts recently are as follows:
DigitalOcean's third-quarter performance exceeded guidance and consensus with higher revenue, EBITDA, margins, and EPS. The prospect for a more positive outlook hinges on clear indicators of accelerating growth.
Acknowledgement is given to some positive developments from cloud competitors and the securing of multi-year contracts; however, there remains a bearish outlook due to the absence of a discernible route to renewed momentum in revenue growth. Projections for the early part of 2025 suggest a possible acceleration, yet expectations are not set for a notable change in net dollar retention at that time.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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