Oppenheimer analyst Param Singh raised the firm’s price target on Cloudflare (NET) to $165 from $150 and keeps an Outperform rating on the shares. The firm notes Cloudflare reported solid Q1 2025 results with 27% year-over-year revenue growth, solid DBNRR at 111%, and improving churn rates and sales productivity. Management has taken a conservative stance on guidance and maintained full-year 2025 expectations, which call for 25% topline growth, Oppenheimer adds. However, given the recent performance and growing success with Workers, the firm believes Cloudflare will continue to deliver beats through the year.
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