Piper Sandler analyst James Fish downgraded DigitalOcean to Neutral from Overweight with a price target of $30, down from $39. The analyst has "rising concerns" with the company’s smaller business and developer exposure, refinancing needs, and its competitive positioning across product portfolio, geo-availability, and pricing. He believes DigitalOcean shares could be range-bound over the next 12 months.
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Published first on TheFly
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