In a report released today, Shrenik Kothari from Robert W. Baird maintained a Buy rating on Cloudflare (NET – Research Report), with a price target of $100.00.
Shrenik Kothari has given his Buy rating due to a combination of factors that reinforce Cloudflare’s competitive positioning in the market. Kothari recognizes Cloudflare’s unified platform’s alignment with current consolidation trends and its ability to offer a comprehensive suite of services. The in-house development of features ensures efficiency and a seamless user experience, which is critical for scalability and maintaining a competitive edge. Moreover, the financial trajectory of the company suggests a path towards increased profitability, highlighting the strategic emphasis on product and sales optimization.
Kothari also highlights the company’s evolving sales strategy under the leadership of Mark Anderson, which is targeting high-value enterprise and federal accounts, balancing the focus between large entities and its foundational customer base of developers and SMBs. The simplification of Cloudflare’s product catalog into clearly defined tiers is seen as a strategic move to streamline the sales process and enhance the appeal to resellers and enterprise clients. Additionally, Cloudflare’s ownership of its network infrastructure sets it apart from competitors by allowing for lower costs and better performance, which, along with its innovative approach, positions it favorably against other major players in the industry.
In another report released on February 23, Argus Research also maintained a Buy rating on the stock with a $124.00 price target.
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Cloudflare (NET) Company Description:
Founded in 2009 and headquartered in California, Cloudflare, Inc. is a web infrastructure and website security company. The company operates a cloud platform and provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and Internet of Things (IoT) devices.
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