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Cloudflare (NET) Receives a Buy from RBC Capital

Tipranks - Tipranks - Sat Aug 8, 6:15AM CDT

In a report released today, Matthew Hedberg from RBC Capital maintained a Buy rating on Cloudflare, with a price target of $346.00.

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According to TipRanks, Hedberg is a 5-star analyst with an average return of 9.1% and a 55.02% success rate. Hedberg covers the Technology sector, focusing on stocks such as F5, Inc., CrowdStrike Holdings, and Cloudflare.

In addition to RBC Capital, Cloudflare also received a Buy from Barclays’s Saket Kalia in a report issued today. However, on August 4, Jefferies 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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