Should You Buy DigitalOcean Stock After Its 12-Month Gain of 360%? An Upcoming Event on Aug. 4 Might Hold the Answer.
DigitalOcean is experiencing red-hot demand for computing capacity from its artificial intelligence customers.
Overview
DigitalOcean (NYSE: DOCN) is currently building artificial intelligence (AI) data centers as fast as it can to meet soaring demand for computing capacity from its customers, many of which are small and medium-sized businesses (SMBs). The company's revenue growth is accelerating, which has fueled a staggering 360% increase in its stock over the last 12 months.
DigitalOcean will release its operating results for the second quarter on Aug. 4, and they could determine whether the stock's upward momentum continues. Should investors be buying at the current price?
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Originally published at www.fool.com.
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