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Credit Suisse Cuts Cloudflare Price Target By 32%

Credit Suisse Cuts Cloudflare Price Target By 32%



Credit Suisse analyst Phil Winslow upgraded Cloudflare Inc (NYSE:NET) to Outperform from Neutral with a price target of $140, down from $205, implying an upside of 49%.




Winslow sees Cloudflare sustain significant revenue growth, within the high 40% to +50% range, for multiple years.




Winslow's expectations grew from differentiated serverless architecture, efficient and rapidly expanding global network, cloud-native approach for integrated network, application, Zero Trust services, and emerging opportunity and strong positioning in edge computing.




Price Action: NET shares traded higher by 0.59% at $93.96 on the last check Friday.
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