TD Cowen raised the firm’s price target on Cloudflare (NET) to $200 from $150 and keeps a Buy rating on the shares. The firm updated its model following meetings with management and came away believing despite an uncertain macro, demand for its platform remains strong as Internet and security mission criticality outweigh concerns and last week’s brief outage, caused by a 3rd party, was swiftly dealt with, leaving no impact.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NET:
- Cloudflare price target raised to $235 from $160 at BofA
- Google Cloud suffered outage on Thursday, TechCrunch reports
- Google Cloud and Cloudflare (NET) Get Hit with Thousands of Outages
- Closing Bell Movers: Oracle jumps 7% after Q4 earnings beat
- Cloudflare announces $1.75B convertible senior notes offering