Cloudflare price target raised to $153 from $92 at Piper Sandler

Piper Sandler raised the firm’s price target on Cloudflare (NET) to $153 from $92 and keeps a Neutral rating on the shares. The firm notes shares are pointed higher on the back of management pointing towards 2025 as a possible re-acceleration period, the narrative remains strong around AI-inferencing, SASE gains, productivity, PoF/consolidation, and more, billings up ticked, NRR stabilized, and there is growth scarcity.