RBC Capital raised the firm’s price target on Cloudflare (NET) to $265 from $250 and keeps an Outperform rating on the shares after its Q3 earnings beat. The company delivered strong results highlighted by 31% revenue growth that again accelerated vs. 28% in Q2, the analyst tells investors in a research note. It was another clean/impressive quarter that continues to give RBC confidence on short-term estimates and the long-term opportunity, the firm added.
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