Baird analyst Shrenik Kothari upgraded Cloudflare (NET) to Outperform from Neutral with a price target of $260, up from $230. The company’s Q4 report Q4 “marked the strongest confirmation yet” that its growth vectors are now “compounding simultaneously,” the analyst tells investors in a research note. The firm says Cloudflare posted record annual contract value, accelerating remaining performance obligation and further go-to-market gains. It views the fiscal 2026 outlook as “prudent.” With investment sentiment “moderated” and accelerating fundamentals, Cloudflare’s risk/reward has turned “decisively favorable,” contends Baird.
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