Cloudflare price target lowered to $49 from $60 at Mizuho

Mizuho analyst Gregg Moskowitz lowered the firm’s price target on Cloudflare to $49 from $60 and keeps a Neutral rating on the shares. The company reported a "poor" Q1, as total revenue growth of 37% year-over-year was slightly below the Street, sales cycles materially lengthened and net expansion activity slowed, the analyst tells investors in a research note. The firm says "weak execution and a reset of this magnitude are concerning."