Needham analyst Alex Henderson reiterated a Buy rating on Cloudflare (NYSE:NET) Inc on Friday, setting a price target of $50, which is approximately 38.50% above the present share price of $36.1.
Henderson expects Cloudflare Inc to post earnings per share (EPS) of -$0.09 for the third quarter of 2020.
The current consensus among 12 TipRanks analysts is for a Strong Buy rating of shares in Cloudflare, with an average price target of $48.25.
The analysts price targets range from a high of $55 to a low of $42.
In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $99.72 million and a net profit of -$24.7 million. The company's market cap is $10.65 billion.
According to TipRanks.com, Needham analyst Alex Henderson is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 17.7% and a 54.31% success rate.
Cloudflare, Inc. engages in the provision of cloud-based services to secure websites. It offers various products for performance and reliability, video streaming and delivery, advanced security, insights, cloudflare for developers, domain registration, and cloudflare marketplace. The company was founded by Matthew Prince, Michelle Zatlyn, and Lee Holloway in 2009 and is headquartered in San Francisco, CA.