Cantor Fitzgerald Upgrades DigitalOcean Holdings, Inc. (DOCN) Stock to Overweight from Neutral, Raises PT
DigitalOcean Holdings, Inc. (NYSE:DOCN) is among the 14 Best Cloud Computing Stocks to Buy Right Now.
On February 5, Cantor Fitzgerald upgraded the company’s stock to “Overweight” from “Neutral,” increasing the price objective to $68 from $47. As per the analyst, this reflects ~6x the CY27 updated revenue targets.
The analyst opines that DigitalOcean Holdings, Inc. (NYSE:DOCN) will continue to scale its business, which includes winning large customers. This fact is backed by the company’s recent win of Character.ai. As the product expands, the analyst believes that there will be more traction with the GPU-led platform-as-a-service.
Furthermore, DigitalOcean Holdings, Inc. (NYSE:DOCN)’s digital-native-focused as well as developer-first approach, which focuses on offering hyperscale services to the overall mass market, seems well-placed to scale. This can drive profitable growth and additional re-rating of the company’s stock.
On January 27, BofA analyst Wamsi Mohan lifted its price objective on DigitalOcean Holdings, Inc. (NYSE:DOCN)’s stock to $72 from $60, while keeping a “Buy” rating. The firm raised its multiple to demonstrate the early adoption of agentic AI and use cases from the broadening of agentic AI. BofA believes that the company’s shares continue to trade higher, with agentic AI assistants, mainly Clawdbot, seeing traction throughout the developer communities.
DigitalOcean Holdings, Inc. (NYSE:DOCN) operates a cloud computing platform and offers on-demand infrastructure and platform tools.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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