2024-05-06 07:07:00 ET
Cloudflare (NYSE: NET) stock has been having a rough time of it very recently, following an earnings report that left many investors dissatisfied.
Many are getting more bearish on the content delivery network (CDN) specialist, including several analysts tracking the stock. One just pulled the lever on a big price target cut, but here's the catch -- he kept his buy recommendation intact, and had some positive things to say about that report.
Among the numerous price target reducers in the wake of Cloudflare's earnings report was KeyBanc's Thomas Blakey. He took a large blade to his level, whacking it down to $94 per share from the previous $132. Yet in his view, it remains an overweight (i.e., buy).
For further details see:
Is Cloudflare Stock Going to $94? 1 Wall Street Analyst Thinks So.