Piper Sandler upgraded DigitalOcean to Neutral from Underweight with a price target of $22, down from $30. With consensus estimates now reset, the shares offer a more balanced risk/reward profile, the analyst tells investors in a research note. The firm, however, remains concerned around “management messaging low-teens growth for 2024.” It says DigitalOcean needs to refinance its debt within the next 18 months given a 2026 maturity.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on DOCN:
- DigitalOcean price target lowered to $25 from $34 at JPMorgan
- DigitalOcean price target lowered to $30 from $42 at Barclays
- DA Davidson tech/software analysts to hold analyst/industry conference call
- DigitalOcean Holdings put volume heavy and directionally bearish
- DigitalOcean (NYSE:DOCN) Rises despite Analyst Downgrade
