Cantor Fitzgerald analyst Yi Fu Lee assumed coverage of Cloudflare with a Neutral rating and $100 price target. Cloudflare delivered its strongest quarter in 2023 to finish the year, exceeding consensus estimates on revenue, operating income, and free cash flow, the analyst tells investors in a research note. The firm views the outperformance as driven by an improvement in the go-to-market execution that is translating into normalized sales execution/cycle winning mega transactions.
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