TD Cowen Hikes Cloudflare (NET) Price Target, Cites Strong Demand Despite Macroeconomic Concerns

Cloudflare, Inc. (NYSE:NET) ranks among the 20 best fast growth stocks to invest in. TD Cowen raised its price target for Cloudflare, Inc. (NYSE:NET) from $150 to $200 on June 16 while keeping a Buy rating on the company’s shares. Although there is macroeconomic uncertainty, the firm noted that there still exists a high demand for Cloudflare’s platform since internet and security services continue to be mission-critical, outweighing broader economic worries.

TD Cowen Hikes Cloudflare (NET) Price Target, Cites Strong Demand Despite Macroeconomic Concerns

Speaking on the recent interruption of the company’s services, TD Cowen explained that it was brought on by a third-party problem and was promptly fixed with no long-term effects. Customers praised Cloudflare, Inc. (NYSE:NET) for its quick resolution of the issue, the firm reported.

According to the analysts, Cloudflare, Inc. (NYSE:NET) has a clear route to achieving $5 billion in recurring revenue annually, with a projected acceleration in fiscal year 2026 relative to fiscal year 2025.

Cloudflare, Inc. (NYSE:NET) is a cloud-based cybersecurity and website management company that also offers routing and developer security solutions. It operates in numerous main categories, including Security Solutions, Performance Enhancement, Reliability, Zero Trust Infrastructure, and others.

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