UPDATE: Jefferies Downgrades Cloudflare Inc. (NET) to Hold

October 27, 2021 5:43 AM EDT
Get Alerts NET Hot Sheet
Price: $191.09 -4.51%

Rating Summary:
    11 Buy, 12 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 2 | New: 11
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(Updated - October 27, 2021 7:41 AM EDT)

Jefferies analyst Brent Thill downgraded Cloudflare Inc. (NYSE: NET) from Buy to Hold with a price target of $195.00 (from $135.00).

The analyst commented, "We downgrade NET to Hold as it achieved our PT (raise to $195), with strong LT fundamentals reflected in valuation (56x EV/'23 Rev), & we wait for a more attractive re-entry point as it is still one of the most disruptive names we cover."

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 $185.36 yesterday.

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