On Nov 09, major Wall Street analysts update their ratings for $Cloudflare (NET.US)$, with price targets ranging from $77 to $110.
Goldman Sachs analyst Gabriela Borges maintains with a sell rating, and adjusts the target price from $72 to $77.
BofA Securities analyst Madeline Brooks maintains with a sell rating.
Mizuho Securities analyst Gregg Moskowitz maintains with a hold rating, and adjusts the target price from $105 to $102.
Oppenheimer analyst Timothy Horan maintains with a buy rating, and maintains the target price at $110.
Furthermore, according to the comprehensive report, the opinions of $Cloudflare (NET.US)$'s main analysts recently are as follows:
Cloudflare experienced a 'mixed' third quarter, and its management indicated that a number of significant deals within the Americas were postponed to the fourth quarter due to leadership transitions scheduled for 2024. Despite the push for an enhanced sales force to leverage both the enterprise opportunity and a broader product offering in Security, analysts perceive this progression to be a gradual and non-linear process.
Cloudflare's third-quarter outcomes were robust but fell short of elevated expectations. The stock's current valuation is considered to be fitting for its anticipated mid-to-high-20s percentage growth, enhanced margin outlook, and attractive AI narrative.
Following Cloudflare's strong Q3 performance, confidence has increased incrementally in the company's potential across different focus areas, despite the less impressive Q4 revenue forecast and the slippage of some large U.S. deals due to alterations in their go-to-market approach.
Cloudflare's stock experienced a downturn of 6% after hours, even with the announcement of robust Q3 earnings, attributed to the company's mention of certain deals not closing within the quarter. The stock appeared to make a recovery following management's discussion on the growth stemming from 'pool of funds' customers and the impact of Gen AI. It was noted that deals from the 'pool of funds' constituted 10% of the new Annual Contract Value for the quarter.
Here are the latest investment ratings and price targets for $Cloudflare (NET.US)$ from 4 analysts:
Note:
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