Piper Sandler analyst James Fish initiated coverage of DigitalOcean Holdings Inc. with an Overweight rating and a $72 price target (21 percent upside). Fish expects DigitalOcean to benefit from the shift of the 18 percent public cloud workload annual growth in which cloud spending is only 23 percent of broader infrastructure spending today. The analyst notes DigitalOcean is…

Analysts mostly hailed ServiceNow Inc.’s Q4 results by raising their price targets. Piper Sandler analyst Rob Owens upgraded ServiceNow to Overweight from Neutral with an unchanged price target of $650 (20 percent upside). Subscription billings acceleration and considerable deal strength “punctuated a solid 4Q result” from the company. The analyst says that with digital transformation initiatives sustaining and IT spending outlook…

Piper Sandler analyst Harsh Kumar downgraded Advanced Micro Devices Inc. to Neutral from Overweight with a price target of $130, down from $140. The analyst is cautious on the broader automotive sector, saying the pace of orders and strong pricing “may come into question” as supply normalizes in the second half of 2022. The price target implies that the…