As previously reported, BTIG upgraded Cloudflare (NET) to Buy from Neutral with a $199 price target After having spoken to five partners with a view on over $100M in combined annual Cloudflare sales over the last couple of weeks, the firm tells investors its checks were “consistently strong on multiple fronts.” The firm, which sees Cloudflare rapidly gaining share in Zero Trust and SASE, thinks the company’s long term growth opportunity in its core web application protection market is “underappreciated,” the analyst added.
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