Goldman Sachs raised the firm’s price target on DigitalOcean (DOCN) to $46 from $44 and keeps a Buy rating on the shares. The company reported a strong Q4 as revenue topped consensus by 2%and EBITDA margin came in 600bps higher than expected, the analyst tells investors in a research note. DigitalOcean management also expressed confidence in growth independent of macro, supported by new customer adds and improving Net Dollar Retention Rate, the firm adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DOCN:
- DigitalOcean’s Q4 2024 Earnings: Strong Growth and Innovation
- DigitalOcean price target raised to $43 from $39 at Cantor Fitzgerald
- DigitalOcean price target raised to $50 from $48 at Canaccord
- DigitalOcean price target raised to $31 from $28 at BofA
- DigitalOcean Reports Strong Growth in 2024 Earnings