Canaccord lowered the firm’s price target on DigitalOcean to $33 from $52 and keeps a Buy rating on the shares. The firm updated its model to account for amended and restated financials, dating back to Q1 2021. These revisions include updated expectations for tax expense and diluted net income per share. The company provided these figures after its Q2 print as a result of a discrepancy in income tax expense on a historical basis.
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