DigitalOcean price target lowered to $32 from $44 at UBS

UBS lowered the firm’s price target on DigitalOcean (DOCN) to $32 from $44 and keeps a Neutral rating on the shares. Shares declined 14% following the Q1 print amid a “skinnier” topline beat and lack of meaningful cash generation in the quarter, the analyst tells investors in a research note. The magnitude of the stock movement seems overly punitive, the firm argues.