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NET

Cloudflare

$16.79

0.01 (0.06%)

06:05
11/04/19
11/04
06:05
11/04/19
06:05

Cloudflare initiated with an Overweight at Piper Jaffray

Piper Jaffray analyst James Fish initiated coverage of Cloudflare with an Overweight rating and $20 price target. The analyst views the current consensus estimates for Cloudflare as "very conservative" and believes the company's platform is "differentiated enough over the medium-term."

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NET Cloudflare
$16.79

0.01 (0.06%)

10/08/19
MSCO
10/08/19
INITIATION
Target $18
MSCO
Equal Weight
Cloudflare initiated with an Equal Weight rating at Morgan Stanley
Morgan Stanley analyst Keith Weiss initiated coverage of Cloudflare with an Equal Weight rating and $18 price target. Cloudflare has been able to build an "impressive" base of about 2M free users and 75,000 paying customers and addresses an "expansive" total addressable market given the move of more workloads to the cloud, but the stock is currently "priced for perfection," Weiss tells investors.
10/08/19
10/08/19
INITIATION
Target $23

Outperform
Oppenheimer bullish on Cloudflare, initiates with an Outperform
As previously reported, Oppenheimer analyst Shaul Eyal started coverage of Cloudflare with an Outperform rating and $23 price target. The analyst views Cloudflare as a market disruptor capable of displacing many legacy providers within the categories it operates in. Through 2021, Eyal expects Cloudflare to operate in growth mode with year over year revenue growth at or above 30%.
10/08/19
NEED
10/08/19
INITIATION
Target $22
NEED
Buy
Cloudflare initiated with a Buy at Needham
Needham analyst Alex Henderson initiated Cloudflare with a Buy rating and a price target of $22. The analyst is positive on the company's "superb" technology intended to improve performance, security and programmability across the internet. Henderson adds that Cloudflare's cloud-driven business model offers "broad relevance" to major trends in the economy, including a digital transformation to the cloud, lowered latency required by cloud applications, and improved connection security. The analyst contends that the company can sustain a revenue growth of 30%-40% per year over the next 3-5 years while expanding its margins and increasing its cash flows.
10/08/19
BTIG
10/08/19
INITIATION
Target $20
BTIG
Buy
Cloudflare initiated with a Buy at BTIG
BTIG analyst Edward Parker initiated Cloudflare with a Buy rating and a price target of $20, saying the company offers a "rare opportunity" within infrastructure software as an "innovator" in the Content Delivery Network market. The analyst is positive on Cloudflare's ability to leverage a single software stack on "top of scale-out commodity hardware", which has supported its relative margin outperformance. Parker adds that the company's ability to maintain a best-in-class margin profile is "impressive" given its status as a price aggressor and the "subsidization" of its large user base. The analyst further notes that Cloudflare's position as a early-mover on a "significant architectural re-think in IT" warrants its premium valuation within the "disrupting SaaS vendors" category.

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