Truist analyst Joel Fishbein raised the firm’s price target on Cloudflare (NET) to $275 from $230 and keeps a Buy rating on the shares. The company reported strong Q3 results driven by continued momentum in its largest size customer cohort – $1M-$5M, strong go-to-market execution, and the success of SASE, Zero-Trust, and AI inference products, the analyst tells investors in a research note. Truist adds that it continues to see upside to Cloudflare’s FY25 estimates that are underpinned by deepening product adoption, reflecting Cloudflare’s unique positioning at the intersection of AI, security, and the emerging agentic web, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NET:
- Cloudflare’s Stock Soars Amid Strong Earnings
- Starbucks, Opko Health, Roblox, Cloudflare, Apple: Trending by Analysts
- Cloudflare’s Earnings Call Highlights Robust Growth and Strategic Wins
- Cloudflare price target raised to $255 from $200 at Scotiabank
- Cloudflare price target raised to $285 from $240 at Needham