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1 Incredibly Cheap Cloud Computing Stock to Buy Before It Soars Higher

TheMotleyFool

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1 Incredibly Cheap Cloud Computing Stock to Buy Before It Soars Higher: https://g.foolcdn.com/editorial/images/787006/cloud-lady-outline.jpg

This has been a forgettable year for DigitalOcean Holdings (NYSE: DOCN) investors so far, as shares of the cloud computing specialist are down 7%. Yet, its latest quarterly report has injected some life into the stock.

DigitalOcean, which provides on-demand cloud infrastructure and tools to small businesses and start-ups, reported second-quarter 2024 results on Aug. 8. The stock shot up 14% following the announcement, as its top and bottom lines easily surpassed Wall Street's expectations.

Let's take a closer look at the company's recent quarterly performance and why it may be a good idea to buy DigitalOcean stock while it remains beaten down.

Source Fool.com

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