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Cloudflare price target lowered to $65 from $70 at RBC Capital

RBC Capital lowered the firm’s price target on Cloudflare to $65 from $70 and keeps an Outperform rating on the shares. The company’s Q3 results were “strong” with higher revenue outperformance, the analyst tells investors in a research note. The quarter’s key highlights include improved rep productivity, a strong pipeline, large customer momentum, and continued progress around GenAI features, the firm added.

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