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DigitalOcean (DOCN) Hits 4-Year High on Oppenheimer 18% Price Target Hike [Yahoo! Finance]

DigitalOcean Holdings, Inc. (DOCN) 
Company Research Source: Yahoo! Finance
DigitalOcean extended its winning streak to a fourth consecutive session on Wednesday, to hit a new four-year high, as investors took path from Oppenheimer's 17.6-percent price target upgrade for its stock. At intra-day trading, DigitalOcean Holdings Inc. (NYSE:DOCN) climbed to its highest price of $86.45 before trimming gains to finish the day just up by 6.30 percent at $82.48 apiece. In a market note, Oppenheimer raised its price target for the software company to $100 from $85 previously, while reaffirming its “outperform” rating on expectations that it is capable of delivering $5.5 billion in revenues on a free cash flow margin of 24 to 25 percent by 2035. DigitalOcean (DOCN) Hits 4-Year High on Oppenheimer 18% Price Target Hike DigitalOcean Holdings Inc. (NYSE:DOCN) is currently focusing on the AI-optimized segment, which, according to the investment firm, is increasing at a compounded annual growth rate of 110 percent as compared with a slower growth rate of 25 percent Show less Read more
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