DigitalOcean price target raised to $46 from $40 at Canaccord

Canaccord analyst David Hynes raised the firm’s price target on DigitalOcean to $46 from $40 and keeps a Buy rating on the shares. The analyst said the company’s improving profit outlook and encouraging customer metrics, growing learners into builders and builders into scalers, give us plenty of room to appreciate shares at these levels.