Cloudflare price target raised to $60 from $55 at Mizuho

Mizuho analyst Gregg Moskowitz raised the firm’s price target on Cloudflare to $60 from $55 and keeps a Neutral rating on the shares. The company reported a "solid" Q4, with revenue growth of 42% year-over-year that was in line with the Street’s forecast, the analyst tells investors in a research note. However, the firm believes the stock’s valuation "somewhat meaningfully discounts strong platform growth in the future."