Read How Analysts Reacted to Cloudflare’s Q4 Results

By Benzinga
Benzinga
Benzinga
February 14, 2022 Updated: February 14, 2022

Analysts mainly bumped up price targets on Cloudflare Inc. post Q4 results.

KeyBanc analyst Thomas Blakey raised the firm’s price target on Cloudflare to $150 from $132 (34 percent upside) and kept an Overweight rating on the shares.

Blakey views Cloudflare as a disruptor of vast markets, including network services and zero-trust security, and as an innovator in areas such as serverless computing.

Accel Q4 metrics and continued strong gross margins, Blakey adds.

Mizuho analyst Gregg Moskowitz raised the price target to $135 from $120 (20.5 percent upside) and kept a Neutral rating on the shares.

The analyst says the company reported a “very good” Q4 and 2022 revenue outlook.

However, even with a recent material correction, Cloudflare’s valuation largely discounts its strong platform growth in the future, Moskowitz notes.

Baird analyst Jonathan Ruykhaver lowered the price target on Cloudflare to $130 from $210 (16 percent upside) and kept a Neutral rating on the shares.

The analyst continues to believe Cloudflare is in the early innings of its opportunity as it continues to add to a strong product portfolio rapidly and works to move upmarket.

Morgan Stanley analyst Keith Weiss maintained Cloudflare with an Equal-Weight and raised the price target from $91 to $100 (10.7 percent downside).

By Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

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