Cloudflare shares are trading lower after UBS initiated coverage on the stock with a Sell rating and $55 price target.
Portfolio Pulse from Benzinga Newsdesk
Cloudflare shares are trading lower after UBS initiated coverage on the stock with a Sell rating and a $55 price target.
June 05, 2023 | 1:33 pm
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UBS initiated coverage on Cloudflare with a Sell rating and a $55 price target, leading to a decline in share prices.
UBS, a major financial institution, initiated coverage on Cloudflare with a Sell rating and a $55 price target. This negative outlook from a reputable analyst is likely to cause a short-term decline in Cloudflare's share price, as investors may react to the news and adjust their positions accordingly.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100