DigitalOcean price target raised to $52 from $46 at Canaccord

Canaccord analyst David Hynes raised the firm’s price target on DigitalOcean to $52 from $46 and keeps a Buy rating on the shares. The firm said while the company will continue to be a predominantly self-serve-driven sales model, the company is tactically leveraging direct sales to convert existing large spenders on larger competitors like AWS and Azure onto DigitalOcean at an attractive price points.