Cloudflare price target raised to $92 from $83 at Piper Sandler

Piper Sandler analyst James Fish raised the firm’s price target on Cloudflare (NET) to $92 from $83 and keeps a Neutral rating on the shares following Q3 earnings. The company’s Q3 results were in line to what the firm expected, but Piper added that enterprise net-adds were a record and Cloudflare is about to see a significant increase in fully-ramped reps. The firm said it is a fan of what Cloudflare is doing long-term but awaits a better entry-point.