In a report released today, Shaul Eyal from TD Cowen reiterated a Buy rating on Cloudflare (NET – Research Report), with a price target of $150.00.
Shaul Eyal has given his Buy rating due to a combination of factors influencing Cloudflare’s performance and market position. The company is expected to deliver results that align with market expectations for the first quarter of 2025, with anticipated revenue of $470 million and non-GAAP earnings per share of $0.16. This consistency in performance, despite broader market volatility, supports the Buy rating.
Furthermore, Cloudflare’s cybersecurity offerings are maintaining strong demand, which is a significant growth driver for the company. The expansion of Cloudflare’s platform and enhancements in their go-to-market strategy are expected to further penetrate enterprise markets, particularly in regions like APAC and the EU. These strategic moves, along with the company’s ability to increase sales capacity and efficiency, reinforce the positive outlook and justify the Buy recommendation, even as the price target is adjusted to $150 due to market valuation trends.
In another report released on March 31, Citi also maintained a Buy rating on the stock with a $180.00 price target.