Cloudflare, Inc. (NYSE:NET), a leader in internet security and infrastructure, announced on Monday the appointment of Michelle Zatlyn as Co-Chair of the Board. Zatlyn, who will serve alongside current CEO Matthew Prince as Co-Chair, has been recognized for her substantial contributions to the company’s growth. The appointment comes as Cloudflare demonstrates impressive business momentum, with InvestingPro data showing revenue growth of 30% over the last twelve months and industry-leading gross profit margins of 77.5%.
Zatlyn, who is also the President of Cloudflare, will no longer carry the title of Chief Operating Officer, although her operational responsibilities within the company will remain the same. The move by the Board of Directors underscores her influential role in steering the company forward.
This corporate governance update was disclosed in a recent 8-K filing with the Securities and Exchange Commission. The filing, dated February 5, 2025, also mentioned that there were no changes to Zatlyn’s compensatory arrangements in her current or expanded role.
Cloudflare’s decision to appoint a Co-Chair reflects the company’s commitment to strong leadership and may signal strategic planning for its future direction. The company, headquartered in San Francisco, California, is known for its comprehensive suite of cloud-based services aimed at enhancing internet security, performance, and reliability.
Investors and market watchers often view executive appointments as indicative of a company’s priorities and strategic focus. With Zatlyn’s appointment, Cloudflare reinforces its leadership team, potentially positioning itself for continued innovation and market expansion.
The information reported is based on a press release statement.
In other recent news, Cloudflare Inc . has seen a series of adjustments to its stock ratings and price targets by various analyst firms. Needham has increased Cloudflare’s price target from $110 to $160, anticipating improved results following recent changes to the company’s go-to-market strategy. Meanwhile, Baird analysts have shifted their stance on Cloudflare, moving the stock rating from Outperform to Neutral, despite raising the price target to $140 from $125.
Truist Securities also raised its price target for Cloudflare to $140 from $120, maintaining a Buy rating, and emphasizing the company’s continued success with major clients and its Workers AI platform. In contrast, JMP Securities lifted its price target for Cloudflare to $135 from $120, endorsing a Market Outperform rating for the company based on strong top-line growth and access to a large total addressable market.
Finally, Citi analysts upgraded their rating on Cloudflare from Neutral to Buy, significantly increasing the price target to $145 from $95, due to a positive outlook on the company’s future earnings potential. These recent developments reflect varying perspectives on Cloudflare’s financial performance and future prospects.
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