Why DigitalOcean Stock Soared on Wednesday

Cloud computing specialist DigitalOcean (NYSE: DOCN) was, hardly for the first time in recent months, quite the outperformer on the stock market on Wednesday. Giving the stock propulsion was a price target increase from an analyst, which helped DigitalOcean shares gain more than 6% in share price that day.The man behind the move was Param Singh of Oppenheimer. Before market open, he lifted his fair value assessment on DigitalOcean to $100 per share from his preceding $85. He also maintained his outperform (i.e., buy) recommendation on the specialty tech stock. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool