Adobe, Cloudflare lead plunge in cloud stocks after JPMorgan issues wave of downgrades on valuation concerns

Adobe’s stock had its second-worst day of the year on Tuesday, and shares of other cloud software companies like Cloudflare and Zscaler plunged after JPMorgan analysts issued a series of downgrades, citing high valuations. In a 2022 outlook report on software technology, JPMorgan analysts including Sterling Auty and Jackson Ader lowered their ratings on 13 […]

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