BUZZ - Piper Sandler upgrades DigitalOcean rating, optimistic about its AI business growth, shares rise accordingly

October 21 - ** Cloud computing platform DigitalOcean (DOCN.N) shares rose 3.9% in pre-market trading to $103.37

** Piper Sandler upgraded the stock rating from "Neutral" to "Overweight"; the price target was lowered from $142 to $126, which still suggests about 27% upside from the latest closing price

** The firm stated that, given AI-driven accelerating growth, its positioning towards AI startups, and the potential upside in long-term recurring revenue, the recent stock pullback has created an attractive buying opportunity

** Among 18 brokerages, 16 rate the stock "Buy" or higher, and 2 rate it "Hold"; the median price target is $175 — according to LSEG compiled data

** As of the prior trading day's close, the stock had gained over 100% year to date

(To assist non-native English speakers, Reuters offers automated translations of its reports into several other languages. As these automated translations may contain errors or omit required context, Reuters does not guarantee the accuracy of the automated translation text and provides it solely for the convenience of readers. Reuters accepts no liability for any damage or loss caused by use of the automated translation feature.)