Cloudflare shares are trading lower after B of A Securities initiated coverage on the stock with an Underperform rating.
Portfolio Pulse from Benzinga Newsdesk
Cloudflare's stock is trading lower after Bank of America Securities initiated coverage on the stock with an Underperform rating.
September 07, 2023 | 12:51 pm
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NEGATIVE IMPACT
Cloudflare's stock is expected to perform poorly in the short term due to the Underperform rating from Bank of America Securities.
Analyst ratings often influence investor sentiment and can impact stock prices. In this case, Bank of America Securities' Underperform rating for Cloudflare suggests they expect the company's stock to underperform, which could lead to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100