Cloudflare price target raised to $105 from $92 at Mizuho

Mizuho raised the firm’s price target on Cloudflare to $105 from $92 and keeps a Neutral rating on the shares. The firm’s Q3 software checks were solid, “but with some puts and takes.” Cybersecurity demand was healthy, and generative artificial intelligence adoption is showing more encouraging signs, although consumption data points were mixed, the analyst tells investors in a research note. More positively, Mizuho’s partner checks expressed optimism for a strong Q4. The firm raised a number of price targets to reflect higher comp multiples, as well as improving fundamentals in a few instances.