UPDATE: Mizuho Securities Starts Cloudflare Inc. (NET) at Neutral
- Wall Street ends volatile week sharply higher
- Disney (DIS) Dips As Streaming Business Shows Signs of Slowing Down, Analysts 'Very Bullish' on LT Opportunity
- Airbnb (ABNB) Bookings Up 52% to Help Sales Beat, Seen as a 'Blow Out Quarter' as More Upside is Left
- DoorDash (DASH) Reports Bigger Loss and a Sales Beat, Shares Soars on Strong Guidance and Two Upgrades to 'Buy'
- Coinbase (COIN) To Add Dogecoin Trading in the Next Few Weeks
Mizuho Securities analyst Gregg Moskowitz initiates coverage on Cloudflare Inc. (NYSE: NET) with a Neutral rating and a price target of $77.00.
The analyst comments "We believe NET has a highly scalable, serverless architecture and a culture of strong innovation. Moreover, NET will likely continue to add customers and grow revenue at a very healthy rate. That said, we believe NET’s current valuation largely discounts strong platform growth in the future. As well, NET’s business is less transparent than many other hypergrowth software companies, which leaves us with modestly lower confidence in the magnitude of financial upside over the medium-term."
Shares of Cloudflare Inc. closed at $70.88 yesterday.
You May Also Be Interested In
- ACV Auctions Inc (ACVA) PT Lowered to $41 as Jefferies Sees One Issue with the Quarter
- WSP Global Inc. (WSP:CN) (WSPOF) PT Raised to Cdn$140 at Scotiabank
- NICE Systems Ltd (NICE) Beat and Raise Driven by Strong Cloud Revenue, PT Cut to $300 at Jefferies But Reit Buy
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!