DigitalOcean price target raised to $105 from $83 at Citizens

Citizens raised the firm’s price target on DigitalOcean (DOCN) to $105 from $83 and keeps an Outperform rating on the shares. DigitalOcean raised $800M in a March 25 public offering and expanded its partnership with Nvidia (NVDA) at GTC, where Nvidia CEO Jensen Huang highlighted strong OpenClaw growth and DigitalOcean’s positioning, the analyst tells investors in a research note. With shares up 74% year-to-date versus a 4% decline for the Russell 3000, and despite potential near-term lumpiness from balancing inference demand and compute capacity, the stock is viewed as offering attractive capital appreciation potential, the firm says.