DigitalOcean gains after Piper Sandler upgrades on AI growth
Yesterday 11:47
BUZZ-DigitalOcean gains after Piper Sandler upgrades on AI growth ** Cloud computing platform DigitalOcean DOCN.N shares gain 3.9% to $103.37 in premarket trading
** Piper Sandler raises rating on stock to "overweight" from "neutral"; cuts PT to $126 from $142, implying about a 27% upside to stock's last close
** Says recent share-price pullback creates an attractive entry point given accelerating AI-driven growth, AI-startup exposure and potential upside to long-term recurring revenue
** 16 of 18 brokerages rate the stock "buy" or higher, 2 "hold"; their median PT is $175 - LSEG-compiled data
** Up to last day's close, shares up more than 100% YTD
(Reporting by Sudeshna Ghoshal in Bengaluru)