Wells Fargo raised the firm’s price target on Cloudflare (NET) to $265 from $250 and keeps an Overweight rating on the shares. The firm expects investors to remain comfortable owning Cloudflare as acceleration story continues to be driven by up-market momentum. Cloudflare is executing well and management’s $3B annualized revenue outlook for Q4 2026 should provide some near-term comfort around the long-term $5B target, Wells adds.
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