Cloudflare price target raised to $170 from $123 at RBC Capital

RBC Capital raised the firm’s price target on Cloudflare (NET) to $170 from $123 and keeps an Outperform rating on the shares after its Q4 results. The company delivered a strong finish to the year with a beat across the board while its FY25 revenue growth outlook was essentially in-line with expectations as upside seems likely, the analyst tells investors in a research note. Cloudflare’s quarter was also highlighted by a notable increase in close rates, improvement in sales cycles, large customer growth, and continued traction in pool of funds, RBC adds.