Cloudflare price target raised to $48 from $29 at RBC Capital » 06:3808/0408/04/20
RBC Capital analyst…
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Cloudflare price target raised to $55 from $35 at Oppenheimer » 07:3607/3007/30/20
Oppenheimer analyst Shaul…
Oppenheimer analyst Shaul Eyal raised the firm's price target on Cloudflare to $55 from $35 and keeps an Outperform rating on the shares. The analyst believes Cloudflare remains well-positioned to benefit from near- and long-term market demand driven by expanding TAM to over $50B associated with recent product launches providing long-term tailwinds, high VPN product profitability that could translate into faster than expected positive cash flow, and Cloudflare's Workers product, which is gaining momentum. With internet traffic testing daily limits, Eyal views the company's solutions as benefiting from accelerated spending.
Cloudflare price target raised to $45 from $30 at Baird » 07:0007/3007/30/20
Baird analyst Jonathan…
Baird analyst Jonathan Ruykhaver raised the firm's price target on Cloudflare to $45 from $30 and keeps an Outperform rating on the shares. The analyst said the company is well positioned to benefit from an expected continued shift toward the cloud and cloud-delivered solutions. He views its valuation as attractive relative to high-growth cloud-native peers.
|Over a week ago|
Tesla downgrade, Shopify upgrade among today's top calls on Wall Street » 09:5107/2807/28/20
TSLA, TM, VWAGY, SHOP, CVNA, CARG, BIIB, NET
Check out today's top…
Cloudflare upgraded to Buy from Hold at Jefferies » 04:5107/2807/28/20
Jefferies analyst Brent…
Jefferies analyst Brent Thill upgraded Cloudflare to Buy from Hold with a price target of $50, up from $27. The stock closed Monday up $1.64 to $37.36. The company is "disrupting" legacy network and web security vendors with its "unique" cloud-based technology architecture and freemium model, Thill tells investors in a research note. The analyst, who's not making a call on the upcoming quarterly report, believes Cloudflare could sustain "hypergrowth for multiple years" as it launches more security services and enterprise adoption further accelerates, "justifying a premium valuation."
Cloudflare price target raised to $47 from $38 at Needham » 07:1207/2207/22/20
Needham analyst Alex…
Needham analyst Alex Henderson raised the firm's price target on Cloudflare to $47 from $38 and keeps a Buy rating on the shares. The analyst thinks Cloudflare is poised to beat guidance, given the continuation of remote work and favorable internet trends, and to raise FY guidance, given its more predictable model. Henderson believes Cloudflare's Serverless architecture is the lowest cost and most efficient of any network.
Fly Intel: Top five analyst initiations » 10:0707/1707/17/20
CRIS, IGMS, CLPT, NET, HRL
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Curis (CRIS) initiated with an Overweight at Cantor Fitzgerald. 2. IGM Biosciences (IGMS) initiated with an Outperform at Baird. 3. ClearPoint Neuro (CLPT) initiated with a Buy at B. Riley FBR. 4. Cloudflare (NET) initiated with an Outperform at William Blair. 5. Hormel Foods (HRL) initiated with a Buy at Argus. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
William Blair starts Cloudflare at Outperform, says warrants premium » 08:4607/1707/17/20
NET, FSLY, AKAM, LLNW
William Blair analyst Jim…
William Blair analyst Jim Breen initiated coverage of Cloudflare (NET) with an Outperform rating and no price target. The company uses a unified control plane to provide security, performance, and reliability services across on-premises, hybrid, cloud, and software-as-a-service applications over its global cloud platform, Breen tells investors in a research note. The analyst says Cloudflare is "disrupting large, established legacy markets" such as application delivery controls and content delivery networks. Cloudflare trades at 20.1 times 2021 estimated sales versus Fastly (FSLY) at 20.9 times, Akamai (AKAM) at 6.0 times, and Limelight Networks (LLNW) at 3.4 times, and a premium to its peers is warranted, contends Breen.
Cloudflare initiated with an Outperform at William Blair » 06:3107/1707/17/20
William Blair analyst Jim…
William Blair analyst Jim Breen initiated coverage of Cloudflare with an Outperform rating. The analyst says the company is disrupting the network services market.
Cloudflare price target raised to $52 from $30 at JPMorgan » 08:5907/1007/10/20
JPMorgan analyst Sterling…
JPMorgan analyst Sterling Auty raised the firm's price target on Cloudflare to $52 from $30 and keeps an Overweight rating on the shares. The traction Cloudflare is seeing in its product portfolio "appears to be gaining steam through the current environment," Auty tells investors in a research note. Further, the analyst expects the company to convert its free Teams offering over to a paid solution in the coming quarters, which he says has the potential of generating "additional revenue tailwinds." Auty sees "ample upside opportunity" to the revenue results over the next several years to generate an attractive free cash flow profile that "propels the stock" to his price target.