Citizens JMP raised the firm’s price target on Cloudflare (NET) to $250 from $225 and keeps an Outperform rating on the shares. Cloudflare reported “impressive” Q2 results, with CEO Matthew Prince saying that the company is “firing on all cylinders,” the analyst tells investors in a research note. As a continuation of Cloudflare’s multi-act narrative to articulate the platform’s evolution and expansion, the company unveiled its Act IV during the Q2 earnings call, building upon its recently launched AI pay-per-crawl solution, the firm notes.
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