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Oppenheimer Maintains DigitalOcean(DOCN.US) With Buy Rating, Maintains Target Price $46

Futu News ·  Nov 5 21:31  · Ratings

Oppenheimer analyst Timothy Horan maintains $DigitalOcean (DOCN.US)$ with a buy rating, and maintains the target price at $46.

According to TipRanks data, the analyst has a success rate of 61.1% and a total average return of 8.3% over the past year.

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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:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

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.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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