Piper Sandler analyst James Fish raised the firm’s price target on Cloudflare (NET) to $224 from $151 and keeps a Neutral rating on the shares. While the bar is very high, Cloudflare was able to jump over it, accelerating RPO and topline primarily due to large, existing customers, the firm says. Piper thinks this is one of the best assets for long-term focused investors, but even on revised numbers and the path for further positive revisions, it remains sidelined. The firm would be constructive on a pullback.
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