Cloudflare Inc. (NET) Signs 'The Largest Ever Contract'; TD Cowen Reiterates Buy

TD Cowen analyst Shaul Eyal reiterated a Buy rating and $150.00 price target on Cloudflare Inc. (NYSE: NET).

The analyst commented: "NET Signs The Largest Ever Contract At >$100M; NET reported better than expected 1Q results at 27% y/y and reaffirmed FY25 guide. Robust trends remain intact and include 1) Adoption of NET's Workers platform as underscored by NET' signing its largest ever contract at over $100M 2) Signed longest term SASE contract to date 3) We believe early signs of its beefed up GTM bench (Anderson, Desai) bearing fruit as journey into F500 remains intact.

NET continues to execute well in all of its Intl markets. Given its growing enterprise focus, sales productivity gains, improved channel reach underlined by a deep GTM bench we envision growth acceleration into FY26. Our $150 PT represents 21x our FY26E rev."

For an analyst ratings summary and ratings history on Cloudflare Inc. click here. For more ratings news on Cloudflare Inc. click here.

Shares of Cloudflare Inc. closed at $124.31 yesterday.

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