Cloudflare price target lowered to $63 from $70 at Mizuho

Mizuho lowered the firm’s price target on Cloudflare to $63 from $70 and keeps a Neutral rating on the shares. The company reported a solid overall quarter but the Q4 revenue guidance was below consensus, the analyst tells investors in a research note. The firm believes Cloudflare’s execution has been relatively choppy, and continues to expect it will take some time before the business significantly rebounds.