Cloudflare upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler upgraded Cloudflare (NET) to Overweight from Neutral with a $222 price target The form is positive on the company’s infrastructure positioning across multiple growth opportunities across Delivery, APSEC, NaaS, SASE, IAS, and IaaS, the analyst tells investors in a research note. The firm adds that the landscape is shifting toward more EDPs, or edge distribution platforms, with Cloudflare seen as a dominant player here, with strong LLM relationships that should see it benefit from AI adoption.