Piper Sandler lowered the firm’s price target on Cloudflare (NET) to $131 from $153 and keeps a Neutral rating on the shares. Cloudflare’s team presented at the annual analyst day, emphasizing “acceleration” across the business, including product-innovation, go-to-market, and overall growth. Piper thinks Cloudflare is a long-term winner with a true platform that is well-exposed, but given expectations/valuation, the firm stays on the sidelines.
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Read More on NET:
- Cloudflare’s Ambitious Growth Targets and Strong Product Line Expansion Justify Buy Rating
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- Strategic Growth and AI Advancements Position Cloudflare for Enterprise Market Expansion
- Cloudflare’s Strategic Growth and AI Integration Justify Buy Rating and $162 Price Target
- Cloudflare: Hold Rating Amid High Valuation Concerns and AI Uncertainty
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