William Blair analyst Jonathan Ho has maintained their bullish stance on NET stock, giving a Buy rating today.
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Jonathan Ho has given his Buy rating due to a combination of factors that highlight Cloudflare’s strong market position and growth potential. The company has exceeded expectations in its recent quarter, demonstrating robust execution and increasing its guidance, which reflects strong demand for its services. Cloudflare’s ability to effectively engage with channel partners and capitalize on competitors’ missteps, such as breaches and outages, positions it well to capture additional market share.
Moreover, Cloudflare’s strategic positioning in areas like CDN security, SASE, edge Workers, and AI indicates its potential for sustained growth. The company’s success in securing larger deals and increasing its customer base, particularly those spending over $100,000, underscores its role as a strategic platform. Additionally, the early-stage opportunities in AI and AI Workers present significant growth prospects, reinforcing the recommendation to buy the stock.
Ho covers the Technology sector, focusing on stocks such as Allot, Cellebrite DI, and Okta. According to TipRanks, Ho has an average return of 8.0% and a 50.70% success rate on recommended stocks.
In another report released today, Citizens JMP also reiterated a Buy rating on the stock with a $270.00 price target.