Cloudflare price target raised to $235 from $225 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Cloudflare (NET) to $235 from $225 and keeps an Overweight rating on the shares. . Investments Cloudflare has made in improving and expanding the solution portfolio, compounded by investments in expanding and maturing the go-to-market strategy, “yielded an impressive Q2 print,” the analyst tells investors. The broader question which likely drives the direction of the stock remains the durability of growth, but the firm contends that the “durability of growth should prove the multiple durable.”