Is Cloudflare Stock A Buy Or Sell? Well, We're Doing Neither

Summary

• We've been huge Cloudflare bulls since the middle of last year and remain of the view that the company will form part of the very fabric of Internet 3.0.
• The stock has run up to our most aggressive short-term price target, so whilst we're delighted with the gains, we're not planning to add any time soon.
• We hope to increase our overall allocation to Cloudflare stock but will likely wait for a periodic tech stock correction before doing so.
• This remains a great company and if buying with a multi-year outlook we think it's fine to open a position now; for ourselves, we rate at Neutral, i.e., not buying, not selling.
• Looking for a helping hand in the market? Members of Growth Investor Pro get exclusive ideas and guidance to navigate any climate. Learn More »

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DISCLAIMER: This note is intended for US recipients only and, in particular, is not directed at, nor intended to be relied upon by any UK recipients. Any information or analysis in this note is not an offer to sell or the solicitation of an offer

Analyst’s Disclosure:I/we have a beneficial long position in the shares of NET, FSLY either through stock ownership, options, or other derivatives.

Business relationship disclosure:See disclaimer text at the top of this article.

Cestrian Capital Research, Inc staff personal accounts hold long positions in NET and FSLY