Stifel raised the firm’s price target on Cloudflare (NET) to $230 from $175 and keeps a Buy rating on the shares following what the firm calls a “strong” fiscal Q2 print “across the board.” Adding that Cloudflare guided Q3 above consensus and raised fiscal year guidance by more than the beat, the firm argues that “this print continued to tick many, if not all, of the greenshoots/opportunities” that the firm had previously highlighted in its upgrade note from December.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NET:
- Cloudflare price target raised to $224 from $151 at Piper Sandler
- Cloudflare price target raised to $111 from $70 at Guggenheim
- Cloudflare price target raised to $235 from $225 at Morgan Stanley
- Cloudflare’s Strong Performance Overshadowed by Stretched Valuation: Analyst Maintains Hold Rating
- Cloudflare’s Strong Growth Potential and Strategic Positioning Drive Buy Rating