Morgan Stanley raised the firm’s price target on Cloudflare (NET) to $150 from $144 and keeps an Overweight rating on the shares. Cloudflare reported a “solid Q1” and signing both a 9-figure transaction and 7-year deal “provides strong validation of the platform story and customer’s confidence in continued innovation,” the analyst tells investors in a post-earnings note.
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Read More on NET:
- Cloudflare price target raised to $70 from $68 at Guggenheim
- Cloudflare’s Strategic Growth and Market Positioning Underpin Buy Rating
- Cloudflare’s Strategic Positioning and Record-Breaking Deal Drive Buy Rating
- Cloudflare’s Strong Growth and Strategic Positioning Justify Buy Rating
- Cloudflare price target lowered to $150 from $170 at Jefferies