Cloudflare price target lowered to $60 from $75 at TD Cowen

TD Cowen analyst Shaul Eyal lowered the firm’s price target on Cloudflare to $60 from $75 and keeps an Outperform rating on the shares. The analyst said we view the disappointing outlook which is externally and internally driven as management’s first ever opportunity to show investors it could operate and execute well in times of constraints and not only in periods of abundance.