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DigitalOcean Hits Choppy Waters: Why the Stock Dropped 15% Last Month

TheMotleyFool 
0 0 07.11.23
DigitalOcean Hits Choppy Waters: Why the Stock Dropped 15% Last Month: https://g.foolcdn.com/editorial/images/753535/frustrated-investor-computer-paper-hands-on-head.jpg
 

Shares of DigitalOcean (NYSE: DOCN) dropped 14.9% in October, according to data provided by S&P Global Market Intelligence. However, the stock has already made back all of this lost ground in early November, after exciting the market with its latest quarterly financial results.

In October, the market was partly reacting to some negative commentary from analysts regarding DigitalOcean stock. Multiple analysts reevaluated DigitalOcean as an investment and consequently lowered their price targets.

For example, in mid-October, analyst Raimo Lenschow lowered his price target for DigitalOcean stock from $42 per share to $30 per share, according to The Fly -- a substantial reduction of 28.6%, which shook investor confidence.

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Source Fool.com

Barclays plc Stock

€2.43
-2.290%
A loss of -2.290% shows a downward development for Barclays plc.

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