Cloudflare's Strategy Focuses on Speed and Network Efficiency as its 'Secret Sauce,' Analyst Says After Speed Week Event
Portfolio Pulse from Anusuya Lahiri
Cloudflare Inc (NYSE:NET) has been maintained with an Outperform rating by Baird analyst Shrenik Kothari, who raised the price target from $59 to $64. The company showcased its commitment to speed and network efficiency at the recently concluded Speed Week. Cloudflare's strategy focuses on leveraging its efficient network to foster customer loyalty, minimize churn, and compete against security market leaders. The company also launched new products and demonstrated advancements in AI/ML.
June 28, 2023 | 6:47 pm
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Cloudflare's focus on speed and network efficiency, along with the launch of new products and AI/ML advancements, could potentially boost its market position and stock value. The raised price target by Baird analyst also indicates positive short-term impact.
Cloudflare's strategic focus on speed and network efficiency, along with the launch of new products and advancements in AI/ML, could potentially enhance its competitive edge in the market. This, coupled with the raised price target by Baird analyst, indicates a positive short-term impact on the company's stock value.
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