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J.P. Morgan Sticks to Its Hold Rating for Cloudflare (NET)

Tipranks - Tipranks - Wed Aug 12, 7:20AM CDT

J.P. Morgan analyst Samik Chatterjee maintained a Hold rating on Cloudflare yesterday and set a price target of $350.00. The company’s shares closed yesterday at $310.59.

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Chatterjee covers the Technology sector, focusing on stocks such as Apple, NetApp, and Dell Technologies. According to TipRanks, Chatterjee has an average return of 53.5% and a 75.41% success rate on recommended stocks.

In addition to J.P. Morgan, Cloudflare also received a Hold from Susquehanna’s Shyam Patil in a report issued yesterday. However, on the same day, Citi maintained a Buy rating on Cloudflare (NYSE: NET).

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Based on Cloudflare’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $696.06 million and a GAAP net loss of $169.98 million. In comparison, last year the company earned a revenue of $512.32 million and had a GAAP net loss of $50.45 million

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