Cloudflare (NET) Market Perform Rating Maintained by Citizens

Cloudflare, Inc. (NYSE:NET) is one of the 8 Best Generative AI Software Stocks to Buy in June. On June 15, Investing.com reported that Citizens maintained its Market Outperform rating on Cloudflare with a $270.00 price target, following the company’s Investor Day presentation on June 9.

Earlier on June 11, Truist increased the price target on Cloudflare to $250 from $225 while maintaining a Buy rating on the stock. The analyst sees the company evolving from an edge security and content delivery network provider to a unified platform that covers security, network services, developer tools, and AI-related workloads.

Similarly, UBS also raised its price target on Cloudflare to $250 from $220 following the company’s Investor Day presentation. The analyst maintained a Neutral rating on the stock as it noted the firm’s margin outlook and AI positioning. Additionally, TD Cowen reiterated its Buy rating on Cloudflare with a $265 price target, highlighting the company’s role in securing AI agents through its cloud-native architecture.

Earlier this month, Cloudflare announced the acquisition of JavaScript tooling company VoidZero in a bid to build the future of AI-native web. The company said the acquisition will unify VoidZero’s high-performance tooling into the Cloudflare ecosystem. It added:

“By merging Cloudflare’s global edge network and Workers developer platform with the modern web’s industry-standard toolchain, Cloudflare is creating a frictionless, one-click deployment stack from local code straight to Cloudflare’s global network.”

Cloudflare, Inc. (NYSE:NET) is a global cloud services provider that delivers a broad range of services to businesses. The company’s connectivity cloud delivers a unified platform of cloud-native products and developer tools.

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