As previously reported, Oppenheimer upgraded Cloudflare (NET) to Outperform from Perform with a $150 price target following a transfer in analyst coverage. The firm believes the company is seeing continued success with its “platformization” strategy and ease of adoption, which allows customers to add new modules with a “single click.” In addition, recent additions to the leadership team give Oppenheimer confidence that the company is on the right track to expand with its security and developer offerings at both large enterprises and at the grassroots developer level. The firm is confident in the company’s ability to exceed its 2025 25% revenue growth target and return to a 30%-plus revenue CAGR.
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Read More on NET:
- Cloudflare assumed at Outperform from Perform at Oppenheimer
- Cloudflare assumed with an Overweight at Morgan Stanley
- Cloudflare price target lowered to $161 from $183 at Goldman Sachs
- Cloudflare price target lowered to $148 from $170 at RBC Capital
- Cloudflare price target lowered to $145 from $185 at Needham
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