10 Stocks That Received Analyst Approval This Week

7. DigitalOceans Holdings Inc. (NYSE:DOCN)

DigitalOceans Holdings Inc. is a global cloud computing platform provider that provides tools and infrastructure for start-ups and many other types of businesses. The company was in the spotlight because it was upgraded by Morgan Stanley from Equal-Weight to Overweight with a target price from $40 to $41.

DOCN received the upgrade because of its potential in AI and machine learning. It is expected to grow at 23% per CAGR (compound annual growth rate) reaching over $213 billion in the upcoming 3 years. According to the note released by analyst John Baer, “DigitalOcean’s larger customers are demanding more product capabilities and the company is delivering”. It shows the increasing demand for the company’s products which will drive more revenue.

Although there was a downturn in the company’s stock price in the past month, it has already gained 8.34% in the last 5 days. Investors have the potential to gain from this ongoing upward trend.