Fatima Boolani, an analyst from Citi, maintained the Buy rating on Cloudflare. The associated price target remains the same with $240.00.
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Fatima Boolani’s rating is based on Cloudflare’s introduction of new solution packages, which are designed to streamline the consumption of its extensive product portfolio. These packages, named Externa and Interna, are tailored to address both external and internal infrastructure needs, aligning Cloudflare’s go-to-market strategy with industry peers. This strategic move is expected to enhance customer engagement by simplifying the adoption process and reducing total cost of ownership.
Furthermore, the new packages are structured into three tiers, allowing businesses of various sizes to adopt appropriate networking and security capabilities. This tiered approach not only facilitates scalability but also promotes cost predictability for customers. The introduction of these packages signifies a significant evolution in Cloudflare’s market readiness and is anticipated to contribute positively to its financial growth, supporting the optimistic outlook for achieving $5 billion in annual recurring revenue.
Boolani covers the Technology sector, focusing on stocks such as CyberArk Software, Cloudflare, and Check Point. According to TipRanks, Boolani has an average return of 17.8% and a 60.67% success rate on recommended stocks.
In another report released on August 3, TR | OpenAI – 4o also upgraded the stock to a Buy with a $225.00 price target.