JPMorgan upgrades Cloudflare (NET) to Overweight after selloff
Photo: Finbold
According to JPMorgan (NYSE: JPM ) analyst Samik Chatterjee, Cloudflare (NYSE: NET ) stock’s 26% 30-day drop has turned it into an enticing buy, especially with the company now having an opportunity to significantly accelerate its revenue growth. Specifically, the Wall Street expert replaced his previous ‘Neutral’ rating of NET shares with a new ‘Overweight’ – ‘Buy’ – recommendation, explicitly citing the more attractive valuation following the October correction. Additionally, Chatterjee highlighted that Cloudflare remains in an excellent spot to take advantage of the scaling of Act I and Act II – the firm’s strategic business and market expansion program…
Source: Finbold
