Needham analyst Mike Cikos initiates coverage on $Cloudflare (NET.US)$ with a buy rating, and sets the target price at $110.
According to TipRanks data, the analyst has a success rate of 54.1% and a total average return of 12.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Cloudflare (NET.US)$'s main analysts recently are as follows:
Cloudflare's third quarter was described as 'mixed', with the observation that a number of significant deals within the Americas were deferred to the fourth quarter, influenced by changes in the company's leadership for 2024. The process of enhancing the sales team to seize both the enterprise opportunity and a broader product opportunity, particularly in Security, is expected to be a gradual and non-linear endeavor.
Cloudflare's third-quarter results were deemed solid, yet they fell short of the heightened anticipations. The perception is that the company's current valuation aligns with its prospects for mid-to-high-20s percentage revenue growth, an upward trend in margins, and an attractive narrative surrounding artificial intelligence.
Cloudflare delivered a robust performance in Q3, yet the Q4 revenue outlook fell short of expectations. Even with the acknowledgment of some major U.S. deals being deferred due to shifts in market strategy, confidence in Cloudflare's potential across multiple areas of focus has grown.
Note:
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