Piper Sandler downgraded DigitalOcean to Underweight from Neutral with a $35 price target. For the updated view, the analyst cited high SMB exposure, a likely top-line cut coming given the firm’s analysis of customers, web-traffic, job postings and ARR build, friction between Cloudways and other MSPs, waning portfolio competitiveness, questionable capital usage, and stretched valuation.
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