Cloudflare price target lowered to $185 from $225 at Jefferies

Jefferies lowered the firm’s price target on Cloudflare (NET) to $185 from $225 and keeps a Hold rating on the shares. While the firm says Q4 revenue growth guidance of 28% year-over-year at the midpoint “looks achievable and is supported by strong VAR survey results,” valuation raises some risk given souring software sentiment, the analyst tells investors in a preview.