Cloudflare price target raised to $87 from $85 at Scotiabank

Scotiabank raised the firm’s price target on Cloudflare (NET) to $87 from $85 and keeps a Sector Perform rating on the shares. The company reported a “nice” Q3, but expectations were high heading into the print, leading to some metrics being a bit underwhelming, the analyst tells investors. While there is much to like about Cloudflare, the firm wonders if investment positives are already priced in.