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Cloudflare (NET): New Buy Recommendation for This Technology Giant

Tipranks - Tipranks - Thu Jun 11, 6:52AM CDT

Oppenheimer analyst Param Singh reiterated a Buy rating on Cloudflare today and set a price target of $300.00.

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Singh covers the Technology sector, focusing on stocks such as Cloudflare, DigitalOcean Holdings, and Akamai. According to TipRanks, Singh has an average return of 16.6% and a 55.77% success rate on recommended stocks.

In addition to Oppenheimer, Cloudflare also received a Buy from William Blair’s Jonathan Ho in a report issued today. However, on the same day, Scotiabank maintained a Hold rating on Cloudflare (NYSE: NET).

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Based on Cloudflare’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $639.76 million and a GAAP net loss of $22.93 million. In comparison, last year the company earned a revenue of $479.09 million and had a GAAP net loss of $38.45 million

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