Cloudflare Inc

NET: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$61.00	Tnpyf	Rkwhzhvxmh

We’d Give Cloudflare a Competitive Edge; Launching Coverage With a $95 FVE; Shares Overvalued

Malik Ahmed Khan

Mar 29, 2022

We are initiating coverage of Cloudflare with a fair value estimate of $95 per share, narrow economic moat rating, positive moat trend rating, and very high uncertainty rating. We currently view shares as overvalued.

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