Cloudflare price target raised to $100 from $85 at Bernstein

Bernstein raised the firm’s price target on Cloudflare to $100 from $85 and keeps a Market Perform rating on the shares. Cloudflare’s Q4 earnings continued to improve its level of beats relative to guidance for the fourth straight quarter, the analyst tells investors in a research note. The positive momentum was further enhanced by increasingly hopeful commentary about improving customer demand environment and success in their newer security offerings, Bernstein says.