Goldman Sachs analyst Gabriela Borges raised the firm’s price target on DigitalOcean (DOCN) to $44 from $40 and keeps a Buy rating on the shares. The company hosted a keynote and several content-rich sessions on its offerings across the infrastructure, platform, and application layers for both core cloud computing and GenAI, announcing several product innovations, most notably its recently-available GenAI Platform, which allows customers to create use-case specific agents supported by their own data and foundational LLMs, the analyst tells investors in a research note. Following the event, the firm has a “better appreciation” of the degree to which DigitalOcean’s AI services can provide a structural tailwind to growth as the need for simplified and cost effective AI for all businesses grows, Goldman added.
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