As previously reported, Oppenheimer initiated coverage of DigitalOcean (DOCN) with an Outperform rating and $60 price target The firm views DigitalOcean as a turnaround story that has begun to show improving traction and momentum with existing and new customers. And Oppenheimer sees customers expanding their utilization of DigitalOcean’s infrastructure-as-a-service and platform-as-service cloud offerings for their artificial intelligence inferencing workloads. This should help the company compete effectively with the “neo-cloud” vendors and drive over 20% topline growth for the next several years, the firm adds.
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