Cloudflare price target lowered to $50 from $65 at Cantor Fitzgerald

Cantor Fitzgerald analyst Jonathan Ruykhaver lowered the firm’s price target on Cloudflare to $50 from $65 and keeps a Neutral rating on the shares. Cloudflare delivered a mixed start to the year with a slight miss to the consensus revenue estimate, while beating EPS by a healthy margin on better cost-control measures, the analyst tells investors in a research note.