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

Tipranks - Tipranks - Fri Jun 12, 4:44AM CDT

Bank of America Securities analyst Tal Liani reiterated a Buy rating on Cloudflare today and set a price target of $255.00.

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According to TipRanks, Liani is a 5-star analyst with an average return of 9.5% and a 56.21% success rate. Liani covers the Technology sector, focusing on stocks such as Ciena, Cisco Systems, and Microsoft.

In addition to Bank of America Securities, Cloudflare also received a Buy from Barclays’s Saket Kalia in a report issued yesterday. However, on the same day, Bernstein 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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