William Blair Thinks This Cloud Computing Firm’s Shares Are ‘Undervalued’

A visitor tries out a tablet computer next to a cloud computing and technology symbol in a file photo. Sean Gallup/Getty Images

William Blair analyst James Breen initiated coverage on DigitalOcean Holdings Inc. (DOCN) with an Outperform rating and no price target.

DigitalOcean is a comprehensive cloud platform designed to simplify cloud infrastructure for developers, start-ups, and small to midsize businesses, Breen tells investors in a research note.