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New Buy Rating for Cloudflare (NET), the Technology Giant

Tipranks - Tipranks - Sat Aug 8, 7:35AM CDT

In a report released today, Sanjit Singh from Morgan Stanley reiterated a Buy rating on Cloudflare, with a price target of $370.00.

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Singh covers the Technology sector, focusing on stocks such as Cloudflare, Datadog, and Appian. According to TipRanks, Singh has an average return of 8.8% and a 56.19% success rate on recommended stocks.

In addition to Morgan Stanley, Cloudflare also received a Buy from Goldman Sachs’s Gabriela Borges in a report issued today. However, on the same day, UBS 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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