Cloudflare Nets Two New Buy Ratings Amid Bullish Outlook

Cloudflare (NET) has received a new Buy rating from Morgan Stanley's Sanjit Singh. In his report, Singh reiterated a price target of $370.00 for the technology giant.

Singh covers the Technology sector and has an average return of 8.8% and a 56.19% success rate on recommended stocks. He also mentioned that Cloudflare reported a quarterly revenue of $639.76 million and a GAAP net loss of $22.93 million for the quarter ending March 31.

This is not the only positive view on Cloudflare, as Goldman Sachs's Gabriela Borges also issued a Buy rating on the company. However, UBS maintained a Hold rating on the stock on the same day.