Piper Sandler analyst James Fish raised the firm’s price target on Cloudflare (NET) to $151 from $112 and keeps a Neutral rating on the shares. While the expectation was high, Cloudflare delivered a strong “narrative-driven-quarter,” driven by large, strategic deal momentum as the path upmarket remains robust. The quarter on paper wasn’t that inspiring, but the large deal momentum and commentary were the “wow” factors, says Piper.
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