In a report released yesterday, Adam Borg from Stifel Nicolaus maintained a Hold rating on Cloudflare (NET – Research Report), with a price target of $90.00. The company’s shares closed yesterday at $72.45.
Borg covers the Technology sector, focusing on stocks such as Autodesk, Palo Alto Networks, and Fortinet. According to TipRanks, Borg has an average return of 10.5% and a 61.11% success rate on recommended stocks.
Cloudflare has an analyst consensus of Moderate Buy, with a price target consensus of $96.00, implying a 32.51% upside from current levels. In a report released on May 3, Piper Sandler also maintained a Hold rating on the stock with a $81.00 price target.
Based on Cloudflare’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $362.47 million and a GAAP net loss of $27.87 million. In comparison, last year the company earned a revenue of $274.7 million and had a GAAP net loss of $45.92 million
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Cloudflare (NET) Company Description:
Founded in 2009 and headquartered in California, Cloudflare, Inc. is a web infrastructure and website security company. The company operates a cloud platform and provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and Internet of Things (IoT) devices.
