Needham analyst Mike Cikos lowered the firm’s price target on Cloudflare (NET) to $250 from $285 and keeps a Buy rating on the shares. Cloudflare continues to reap the benefits from a multi-year investment initiative to bolster the go-to-market organization, and the firm views Q4 as demonstrating success with accelerating revenue and the company having closed its largest annual contract deal ever, the analyst tells investors in a research note.
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