Needham analyst Mike Cikos maintained a Buy rating on Cloudflare (NET – Research Report) today and set a price target of $160.00.
Mike Cikos has given his Buy rating due to a combination of factors that highlight Cloudflare’s strong performance and strategic positioning. The company has exceeded expectations with its recent financial results, which have alleviated concerns about its future outlook for the year 2025. This positive momentum is expected to lead to further outperformance in guidance and drive the stock price higher.
Additionally, Cloudflare’s recent success in securing a record-breaking $130 million Pool-of-Funds deal, which was closed in just three weeks, showcases its competitive edge over rivals like AWS. This deal not only saves the customer a significant amount of money but also sets a precedent for similar agreements, particularly with Fortune 500 companies. Furthermore, Cloudflare’s go-to-market strategies are proving effective, with notable improvements in sales productivity and a consistent acceleration in ramped representatives, reinforcing the company’s growth trajectory through 2025.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $150.00 price target.