UPDATE: Mizuho Securities Starts Cloudflare Inc. (NET) at Neutral

April 12, 2021 4:03 PM EDT
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Price: $72.30 +8.48%

Rating Summary:
    14 Buy, 5 Hold, 0 Sell

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    Up: 30 | Down: 4 | New: 24
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(Updated - April 12, 2021 4:05 PM EDT)

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."

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 $70.88 yesterday.

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