Key Analyst Forecasts Cloudflare Stock Reaching $94 Amid Mixed Earnings Results
Cloudflare Stock Analysis
Cloudflare (NYSE: NET) stock has faced volatility following its recent earnings report, prompting analysts to reassess their price targets. One notable analyst, Thomas Blakey from KeyBanc, reduced the target price to $94 per share while maintaining a buy rating.
Positive Q1 Performance
- Revenue increased by 30% year-over-year to nearly $379 million
- Non-GAAP net income more than doubled to over $58 million
- Guidance in line with expectations
Valuation Concerns: Despite the strong financials, Cloudflare has high valuations, leading investors to expect exceptional performance that was not met in the last quarter.
Cloudflare remains a promising prospect with valuable services, especially in the competitive CDN segment.
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