Oppenheimer analyst Param Singh raised the firm’s price target on Cloudflare (NET) to $239 from $200 and keeps an Outperform rating on the shares. The firm notes Cloudflare reported solid Q2 results with 28% year-over-year revenue growth, issued Q3 guidance ahead of consensus, and increased FY25 revenue growth expectations. Improving sales productivity was a highlight of the call as the GTM team accelerated its growth in fully ramped account executives and observed strength in pool-of-funds deals, Oppenheimer adds.
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