Morgan Stanley analyst Josh Baer maintains $DigitalOcean (DOCN.US)$ with a hold rating, and adjusts the target price from $39 to $40.
According to TipRanks data, the analyst has a success rate of 53.4% and a total average return of 3.5% 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 Q3 results surpassed expectations with revenue, EBITDA, margins, and EPS all exceeding guidance and consensus. Analysts are awaiting more definitive signs of accelerated growth to adopt a more optimistic stance on the stock.
Although there's recognition that DigitalOcean's gains from cloud competitors and its multi-year contracts are positive developments, the view remains cautious due to the absence of a distinct strategy for reigniting revenue growth. Projections for the early part of 2025 suggest an upturn; however, it's not anticipated that the Net Dollar Retention will pivot 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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