DigitalOcean (DOCN) Stock: $54 Price Target And Overweight Rating

By Amit Chowdhry ● Apr 28, 2022
  • The shares of DigitalOcean Holdings Inc (NYSE: DOCN) have received a $54 price target from KeyBanc. These are the details.

The shares of DigitalOcean Holdings Inc (NYSE: DOCN) have received a $54 price target from KeyBanc. And KeyBanc analyst Michael Turits is maintaining an “Overweight” rating on the shares. 

Turits adjusted the rating while noting that the results from interviews with 28 channels and data from 38 VARs in his survey indicated strong first-quarter results for the Enterprise Software space. And Turits pointed out that while no macro impact was indicated yet, there was some macro caution going forward expressed in conversations. 

During COVID, Turits also sees hyper-scale cloud and cloud infrastructure as a defensive 2022 investment theme given the macro.

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