It turns out that investors interested in small upstart cloud computing platform DigitalOcean (NYSE: DOCN) got not one but two opportunities to buy the big dip. After bottoming during the bear market at the very end of 2022, shares rocketed higher in the first half of 2023. But then the stock reached fresh all-time lows later in the year after slowing revenue growth hit, past accounting errors were found, and a shake-up at the CEO level was announced.

DigitalOcean (DO from here on out) is back on the mend again, and it has doubled in value over the last four months. The final earnings update of 2023 and the outlook for 2024 have the market feeling okay about the cloud business again. Is it too late to buy?

DO performed fairly well last year considering some of its drama. The company provides remote data center computing power for start-ups and small and mid-sized businesses (or SMBs), a high-growth industry that sailed through much of the bear market of the last couple years.

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Source Fool.com