DigitalOcean stock had its Relative Strength (RS) Rating upgraded from 88 to 91 Monday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's unique RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an 80 or higher RS Rating as they launch their largest climbs.
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Is DigitalOcean Stock A Buy?
DigitalOcean stock is still within a buying range after breaking past a 38.50 buy point in a consolidation. Once a stock moves 5% or higher beyond the original entry, it's considered out of buy range.
The cloud-computing company showed 22% EPS growth last quarter, while sales growth came in at 16%. Keep an eye out for the company's next round of numbers on or around Feb. 21.
DigitalOcean stock earns the No. 11 rank among its peers in the Computer Software-Enterprise industry group. Salesforce, Datadog and Five9 are among the top 5 highly rated stocks within the group.
